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Sales and operations directors take control of Taygroup following an MBO. Bedfordshire-based logistics firm Taygroup has undergone a £9m management buyout (MBO) allowing its sales and operations directors to take control of the business. Chairman Nick Taylor, who set up the business in 1991 as Taylored Lines with finance director Paul Craven, sold his investment in the business and is no longer involved in the  industry. However, the MBO team, which includes Jon Wright and Lloyd Dennaford, says he is providing a supporting role for the time being. Craven remains at the company in his current position.

Dennaford has been with the business since its launch and joined as traffic planner. Wright, now MD of Taygroup, joined in 2002. He was a graduate management trainee with Securicor Omega Logistics and then undertook a number of roles with Securicor ranging from business analyst to warehouse operations manager. He joined Taylor Barnard in 2000 as a project manager and was later promoted to business development manager. A company spokeswoman says: "Nick had taken more of a back seat for a while and he felt the time was right for the business to be passed to the MBO team. He wanted the business to remain independent and the timing of the MBO has allowed for a smooth and planned transition against the backdrop of continuing growth and success.

Wright adds: "This is a very positive step  for Taygroup it will enable us to build on our position as a leading logistics solutions provider and take the business forward to a new phase of its development." Taygroup was created when Taylored Lines and Bee Line Transport & Distribution merged on 1 April. It has contracts with blue-chip clients such as Tesco, Ikea, and Cereal Partners UK, and operates 300 vehicles from four UK locations. The £8.75m sale went through on 21 June.