TMM Recruitment, one of the North-east’s most respected recruitment firms, has made the significant step of becoming employee-owned, transferring its ownership into an Employee Ownership Trust (EOT).
The transition marks a new chapter for the company, which has been a key player in the region’s recruitment sector for over 25 years, specialising in placements across accountancy, finance, HR, supply chain and contracts, legal, IT, office support, and engineering disciplines.
Under the new structure, the shares of the business are now held in trust on behalf of its employees, giving them a collective stake in the company’s success while preserving its independence and values.
Chief Executive Amanda McCulloch – who has led the business since 2009 and will continue in her role – said the move was a natural evolution for a company defined by its people.
“We've always been a people business, built by the incredible talent and dedication of our team,” she said.
“This Employee Ownership Trust is our way of recognising and rewarding the people who have been instrumental in making TMM Recruitment what it is today.
“It's not just a business transaction; it's a commitment to our team's future and a testament to the collaborative spirit that defines us.”
TMM Recruitment (formerly Thorpe Molloy Recruitment) was founded in 1997 in Aberdeen by Karen Molloy and Judith Thorpe.
Amanda McCulloch joined the business in 1999 as a graduate trainee consultant, before rapidly progressing within the company into a leadership position.
As part of the EOT, the leadership team at TMM remains in place, ensuring continuity for clients and candidates while broadening the sense of shared responsibility across the company.
Employee Ownership Trusts are a business model in which a controlling interest in a company is transferred to a trust on behalf of its employees.
First introduced by the UK Government in 2014, the model offers a succession route that helps retain local ownership, protect company culture and driving employee engagement.
Backed by both the UK and Scottish Governments, EOTs are increasingly seen as a sustainable way to anchor businesses in their communities.
The employee ownership model brings a range of benefits, including improved business performance, higher staff retention, and stronger employee engagement. Companies often report that being employee-owned enhances decision-making, deepens commitment, and strengthens long-term planning.
In a region where talent attraction and retention are critical, employee ownership also offers a competitive advantage, giving staff a genuine voice and stake in the future of the business.
Amanda McCulloch added: “We believe this move reinforces our commitment to staying true to our foundations and values-led.
“It’s a structure that strengthens the business for the long term and empowers our team to play an even greater role in shaping our future.”
TMM Recruitment was advised on the transaction by Baxendale Employee Ownership and Hall Morrice.