Trucking company Axle Haulage has become employee owned, with the new employee ownership trust (EOT) owning the majority of the business.
Former majority stakeholder Barry Jordan will remain chairman of the Dunstable-based firm, 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 business over many years but wanted to secure its future, continue its legacy and reward the contribution of employees who had made it successful.
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 staff at all levels.
Alex Scottow, operations director at Axle Haulage, 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.”