A South Yorkshire manufacturer and supplier of drill bits, power tool accessories and tools has become an employee-owned business. Sheffield-based Armeg Ltd, established in 1973,

has been sold to the newly formed Armeg Employee Ownership Trust. The move is set to enable the company’s 55 employees to share directly in the company’s success and future growth strategy. It is important to point out that, despite the change, it is business as usual for the firm. Chartered accountancy firm, Shorts, advised on corporate finance and tax matters relating to the transition.

More information www.shorts.uk.com