Herefordshire haulier puts staff in the driving seat with ownership trust
A Pallet-Track member that has been operating for more than 100 years has put its staff in the driving seat by introducing an employee ownership trust.
Family-owned logistics specialists, Burgoynes (Lyonshall) Ltd, which has been operating out of Lyonshall, Herefordshire since 1909, has introduced the ownership trust to secure the firm’s future.
Burgoynes (Lyonshall) Ltd Directors have made the Burgoynes Pallet-Track team beneficiaries of the trust to ensure the company’s longevity and to avoid the business being sold.
All employees of the company will become beneficiaries of its profits, making Burgoynes one of just a handful of hauliers to introduce such a scheme.
Burgoynes’ new leadership team will consist of finance director, Deborah Spencer, and operations director, Jonty Howard, who were guided through the process by the Employee Ownership Trust and Co-ownership Solutions.
Set up by William Henry Burgoyne, the company’s success and longevity is due to the entrepreneurial vision and adaptability of a number of family members.
Having initially specialised in transporting agricultural goods due to its rural location, Burgoynes diversified in 2006 by joining Pallet-Track as a shareholder member.
Burgoynes’ membership has enabled the firm to reach new customers and implement an IT tracking system without having to purchase new software.
Deborah said: “The trust takes a different approach to succession planning, future-proofing the business and ensuring it continues in the Burgoynes name.
“All current staff members receive a share of the profits by virtue of being an employee, without having to purchase shares in the company.
“We are excited about the new direction we are taking Burgoynes in and are looking forward to working with employees who are fully invested in the successful future of the company.”
Jonty said: “This is a fantastic opportunity for all employees to share in the future success of Burgoynes Pallet-Track.
“Having worked for Burgoynes for nearly 30 years, I’ve seen the transport business go through highs and lows, and the present team is the strongest and most committed group of people I’ve had the pleasure to work with.
“The Burgoyne family and all our customers can rest assured the future of the company is in safe hands.”
Chairman Andrew Burgoyne said: “This is a unique opportunity for our much-valued employees to own a highly respected, growing local business which they have helped to make so successful.
“I am confident that this is the positive way forward to grow on our past success for both our staff and our loyal customers.”
Caroline Green, chief executive, said: “Burgoynes is a well-known and well-respected name in the logistics industry, so we are very pleased that it will remain in good hands and that its future looks so positive.”