Ayrshire Engineering Group Secures Long-Term Future with Move to Employee Ownership Trust

Prestwick, Scotland - May 1, 2025 - The Precision Tooling and Castings Group, comprising Anderson Stewart Castings and Precision Tooling Services, has transitioned to an Employee Ownership Trust (EOT), securing the future of the business for its 100 employees.

With a heritage spanning over 70 years combined, and operations in Prestwick and Glengarnock, the Group is a key player in the manufacture of high-quality engineering products for sectors including aerospace, automotive, rail, oil and gas and nuclear. Anderson Stewart Castings is Scotland’s only industrial investment casting foundry, while Precision Tooling Services delivers specialist precision machining.  Together, the companies enjoy a global reputation for quality and innovation.

The four shareholders - Peter Currie, Brian Taggart, Gary Brese, and David Armour chose the EOT model after carefully evaluating their succession options.

“We receive frequent offers to buy the business - some very attractive,”  said Managing Director Peter Currie. “But we knew that wasn’t the right choice for us or our team.  Many of our employees have been with us for decades. This move ensures their loyalty is recognised and the business remains rooted in Ayrshire for generations to come.” Peter Currie will continue to lead the company during the transition period.

As part of the plan, Peter Currie outlined to employees some future changes at a senior level in the company.  Candice Gamble, Alison McCarroll and Ian Welsh were announced as Directors Designate of the Group and will eventually join the company board.

Peter Currie continues, “This move to an EOT enables a smooth transfer of leadership for the company, providing reassurance for our employees, customers and suppliers.  I plan to be around for several years to come and look forward to seeing Precision Tooling & Casting Group continue to flourish in the hands of those who know it best, the employees.”

Group HR Manager Jacqui Graham has been appointed to the Trust Board. “This move reflects our belief that when we look after our people, they deliver their best for our customers. The EOT secures our future and gives our team real confidence moving forward,” she said.

The transaction was supported by Paul Slater of V2 Corporate, with tax advice from Sharon Wood of Gilliland & Co, legal advice from David Deane of Bannatyne Kirkwood France, and specialist EOT support from Carole Leslie of Ownership Associates.