[31.05.24]

Wilmslow based accountancy practice, Castletons Accountants has advised Gloucester based Planet Logistics on its sale to its employees through the establishment of an Employee Ownership Trust.

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.

Castletons Accountants worked alongside business adviser Peter Barrett and leading independent law firm Brabners to advise on the establishment of the EOT and the succession of Planet Logistics to employee-ownership.

David Summerhayes, Founder of Planet Logistics, said: “We approached Andrew Ford at Castletons as we were looking for innovative and proactive solutions as part of our succession and development plans. An Employee Ownership Trust provides that and much more, including continuity for our customers and staff and enables the business to retain its strong culture and independence.  I’m very grateful for the expert support provided by Castletons and Brabners in helping demystify employee ownership. Their hands-on support and guidance were crucial in building trust in the process.”

Andrew Ford, Director of Castletons Accountants commented: “We are proud to have worked alongside Brabners to support David and his team through this transition.  Employee ownership has provided a succession strategy for David, which recognised loyal staff and provided security for them and Planet Logistics’ customers, enabling sustainable future growth for the business.”

Castletons Accountants