Celebrating our 50th employee ownership transaction — Planet Logistics

13 June 2024

2 min read

Company News, Corporate, Employee Ownership

We're thrilled to have advised a Gloucester-based supply chain and logistics courier on its transition to employee ownership in collaboration with Castletons Accountants Limited.

Why was employee ownership right for Planet Logistics?

Established in 2001 by David Summerhayes, Planet Logistics offers urgent B2B same-day delivery solutions in the UK and Europe, specialising in hazardous goods, storage space and exhibition support.

The company has been sold to its employees through the establishment of an employee ownership trust (EOT).

David Summerhayes said:

“I looked at other exit options, but employee ownership seemed like the natural fit for Planet Logistics. Fundamentally, the EOT transaction provides continuity for our customers and staff and will enable the business to retain its strong culture and independence.

I’m very grateful for the expert support provided by Brabners and Castletons in helping demystify EO.

Their hands-on support and guidance were crucial in building trust in the process.”

Partnering with Castletons Accounts

Our specialist EOT team worked alongside Andrew Ford at Castletons Accountants and business adviser Peter Barrett to advise on the establishment of the EOT and the succession of Planet Logistics to employee-ownership.

Stephen Hadlow, Partner and Head of our EOT team said:

“Employee ownership is the fastest growing business ownership model in the UK and Planet Logistics represent a significant milestone for our team as our 50th EO transition deal in four years.

It was a pleasure to partner with Castletons and help deliver a succession strategy for David which recognises shareholder value, supports loyal staff and creates a sustainable platform for future business growth.”

Andrew Ford commented:

“Stephen and the team at Brabners have surpassed our expectations throughout the undertaking, providing valuable practical experience as well as the expected legal expertise.

Their technical knowledge, structured approach and (last but not least) understanding of the client’s requirements could not be faulted and resulted in a great outcome for David and the business.”