Gold FORS member Axle Haulage has become an employee-owned business, with the Dunstable-based operator’s new employee ownership trust (EOT) owning the majority of the business.
Former majority stakeholder Barry Jordan will remain chairman of the business, which specialises in civil engineering, construction and railway industries transport, and has operating licences for a fleet of around 45 trucks and 30 trailers.
He will also retain a minority shareholding.
Jordan said he had received numerous offers for the company over many years but wanted to secure the future of the business, continue its legacy and reward its employees'c ontribution who have made the business the success it is today.
He added that he will continue to lead the company forward in what he described as “very exciting times ahead” and is confident the transition will inspire and motivate all employees at all levels.
Alex Scottow, operations director, said: “All our employees are over the moon and relish the thought of becoming equal partners in a growing business that is so well established and has such a great reputation throughout the industry. This a fantastic opportunity to realise our personal ambitions.”
Jordan added that he remains committed to the company and as board member of the RHA but also looks forward to improving his golf handicap and pursuing other business interests both at home and abroad.
