Date posted:
Mon 13 March 2023
DSG Chartered Accountants and Glenville Walker & Partners have advised freight forwarder, Warrant Group, on its shift to become one of the largest Employee Owned companies in the UK, marking a new beginning for the company. Warrant designs multi-modal logistics solutions and delivers exact fit requirements to its customers on a global scale.
The owners of Warrant Group, Ian Jones and Lynsey Morrison, have sold 90% of their shares to an Employee Ownership Trust (EOT), allowing them to step back from the business over time.
As a result, Ian Jones has stepped down as Managing Director and taken a Non-Executive Director role on Warrant Group’s Board of Directors, while Lynsey Morrison has stepped down from her role as Finance Director and taken up a new role as Chairman of the board.
Andy Simpson has been appointed as Managing Director of Warrant Group and John Healy has taken over as Finance Director. The Trust was formed with the goal of sustaining Warrant Group’s independence and to secure the long-term future of the business, built on the hard work and commitment of its employees.
The new brand and website, launched to coincide with the changes, symbolise the start of an exciting future for Warrant Group.
Ian Jones, Non-Executive Director on Warrant Group’s Board of Directors, commented: “As owners of Warrant Group, Lynsey and I felt that an EOT fitted perfectly with our company ethos to secure the long-term future of the business. This will ensure that our core values, culture, and legacy will continue for many years to come.”
Andy Simpson, Managing Director, said: “This is an incredibly exciting time for Warrant, and I am proud to be leading the business into an ambitious new era to drive fresh growth with an amazing new brand and the collective strength of our Warrant family. Our solutions are perfectly suited to anyone looking for a fresh alternative to industry norms.”
The business was advised by DSG Chartered Accountants and law firm Glenville Walker & Partners.
Mark Kearsley, Tax Partner at DSG Chartered Accountants, said “The sale to an EOT is a perfect fit for the Warrant Group, ensuring the long-term future of the business and building on the success which has been created by its employees. We are seeing an increased interest in EOTs as an alternative exit strategy, particularly since the pandemic. Arguably, the importance of retaining and attracting talent has never been greater.
“It was a pleasure to work with the team at Warrant Group. We’re proud to be part of this exciting initiative, and wish the team all the best in the future.”
Denise Walker, Group Managing Partner at Glenville Walker & Partners, said: “The shift to an EOT is a natural next step for Warrant Group. The move sets the company up for success, incentivising its employees, encouraging talent recruitment and retention, and bringing a competitive element to the market. The use of EOT frameworks as a vehicle for the sale of businesses is really gathering momentum and, having seen this project through from start to finish, we at Glenville Walker want to extend our congratulations and best wishes to all of Warrant’s employees as they face their exciting future.”