Gloucester-based Planet Logistics goes employee owned

Published by

Nicky Godding

Peter Barrett, Nathan Samuel (Brabners), Stephen Hadlow (Brabners), Andrew Ford (Castletons) and David Summerhayes (Planet Logistics).

Brabners law firm has advised a Gloucester-based supply chain and logistics courier on its transition to employee ownership in collaboration with Castletons Accountants Limited.

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, Founder of Planet Logistics, said: “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 employee ownership. Their hands-on support and guidance were crucial in building trust in the process.”

Brabners’ 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 in Brabners’ Corporate 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.”

Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe. After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts. She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.