A Teesside warehousing and logistics firm has doubled in size over the last three years – thanks in part to the legal guidance of law firm Endeavour Partnership.
InBond – which offers a wide range of logistics services – relocated from the former Ministry of Defence site at Allen’s West in Eaglescliffe to a 75,000 sq ft space at Stockton’s Northshore three years ago.
The move followed a Management Buy Out (MBO), administered by Endeavour Partnership, which saw current directors Craig Rye and Phil Lyons take over the reins at InBond.
Since the move in 2014, InBond has grown its team from 23 to 45, while turnover has increased from £1.2m to £2m.
And its management says its growth has been helped by the expert help and support of Stockton-based Endeavour.
Co-director Rye said: “When we knew we wanted to buy the business and carry out an MBO, we knew we had to appoint legal professionals.
“We had a vision of where we wanted to take our business, and Endeavour really resonated with us in terms of being forward thinking and understanding where we wanted to go.
“What’s happened beyond that has been very positive. There have been lots of hills to climb, but having Endeavour on board has really given us access to the expertise we’ve needed for any given issue we’ve had.”
Rye says while InBond also wanted to use more local professional services, they recognised other benefits of being involved with Endeavour.
He explains: “When we took the business on, the old regime had all of their professional services from outside the area.
“Other than solicitors, their accountants were based in London, their insurance brokers were in Glasgow and it was all because of reasons outside of internal control.
“We wanted to get more engaged with the local professional community, and after meeting Endeavour they gave us one or two great introductions. They put us in touch with Erimus Insurance Brokers who managed to give us huge savings. We also use Wynyard-based Evolution for accounting and taxation services.
“Getting into that society has also led us to getting involved with the Middlesbrough and Teesside Philanthropic Foundation. Off the back of trusted partners we decided to become part of it and it’s something we’re really passionate about.”
Since helping InBond through its MBO, Endeavour Partnership has since advised the firm on a wide variety of legal issues.
Martin McKinnell, from Endeavour Partnership’s corporate and commercial department, said: “We’ve been involved with InBond since its rebirth and the MBO, including taking on the parent company and putting in place a new company constitution and shareholders’ agreement to regulate the relationship between the two stakeholders.
“Working with InBond has been very easy, they know what they want and it was clear from day one we had a mutual understanding.
“It’s always satisfying to help other companies grow. InBond has experienced significant growth in the last three years and we look forward to working with them as they continue to grow.”
InBond offers general and bonded warehousing, including the storage and distribution of anything from raw materials to bonded cargo such as wines and spirits. It also offers document management solutions under many facets, and has a major contracts with several local authorities.
InBond also works with a haulage partner to offer overnight UK distribution as well as freight forwarding specialists which allows them to manage freight consignments around the world.
Endeavour Partnership is a North East based Commercial law firm, solely focused on delivering the best legal solutions to businesses around the region and beyond.
After a successful 2016 the firm’s team has grown to over 50 members, helping to provide companies with an effective and efficient service.
Endeavour Partnership was formed in 1999 and has experts in a variety of areas including commercial disputes, employment, corporate recovery and insolvency, commercial property and corporate law.
For further information, career opportunities or advice visit www.endeavour.law
• Pictured above (left to right): Martin McKinnell from Endeavour Partnership’s corporate and commercial department, InBond director Craig Rye, and Catherine Devereux from Endeavour Partnership’s employment department.