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 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.
“The trust takes a different approach to succession planning, future-proofing the business and ensuring it continues in the Burgoynes name,” Deborah said. “All current staff members receive a share of the profits by virtue of being an employee, without having to purchase shares in the company.
Jonty added:
“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.
Chairman Andrew Burgoyne commented:
“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.”