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Herefordshire haulier intros employee ownership trust

Herefordshire haulier intros employee ownership trust

A Herefordshire haulier which 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.

“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,” said Deborah.

Having initially specialised in transporting agricultural goods due to its rural location, Burgoynes diversified in 2006 by joining the Pallet-Track network as a shareholder member. The network enables logistics firms to work together to transport palletised goods around the UK more efficiently and Burgoynes’ membership has enabled the firm to reach new customers and implement an IT tracking system without having to purchase new software.

“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,” commented Chairman Andrew Burgoyne.

Transport and Logistics Magazine | The Home of Transport Industry News

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