An engineering and steel supplies business which has been a Partnership for nearly a century, appoints a new Director as it makes the historic move to an Incorporated Company.
SJ Andrew & Sons was established as a family business in 1914 by Stephen John (SJ) Andrew, and then run by his three sons. Passed from father to son into its third generation, the Partnership is now headed up by brothers – Philip and Peter Andrew who have both been with the business for over 40 years.
Having entered its fourth generation, with Philip’s son Nathan joining in 1994, the family business now welcomes Malcolm Reynolds as a Director, as SJ Andrew & Sons marks the evolution from a Partnership to an Incorporated Company, giving greater stability and benefits for the future.
Malcolm, who lives in Camborne, joins SJ Andrew & Sons Ltd at this important milestone having previously been Area Manager for Brandon Tool Hire who purchased Andrew Tool Hire in 2001, a company which Malcolm in conjunction with the partners of SJ Andrew & Sons set up and ran for 11 years.
Malcolm said, “This is a long standing business with traditional values. The whole team feels like an extended family and it is a privilege to be part of it. I am very proud to join the newly Incorporated Company as one of the four Directors, along with Philip, Peter and Nathan, ensuring that from the client’s point of view the high level of service and family ethos will remain the same. Philip and Peter will look to slowly retire over the coming years whilst Nathan and I are looking forward to taking the company through its next century”.
The steel stockholding and engineering supplies business moved to an Incorporated Business in July with the help of Wilde Law and Robinson Reed Layton Chartered Accountants and Chartered Tax Advisers.
Having built up a strong reputation and excellent client base over the past 96 years, with plans to continue for the next 96 and beyond, Paul Reed from Robinson Reed Layton explains why it was important for SJ Andrews & Sons to move to incorporated company status now.
Paul said, “Incorporation in the way which SJ Andrew has been structured has meant that a non-family director can join and help to grow the business, whilst protecting the family silver. The recent Budget has provided more good reasons to look again at the incorporation of businesses; this includes a more tax efficient method of remunerating directors rather than partners. There is also the advantage of a change in limited liability status – a partner is personally liable for all debts of the partnership, whereas there is limited liability status when trading through a company.
Incorporating the business also helps safeguard employees and gives more certainty for the future, as Jonathan Wilde from Wilde Law explains.
Jonathan said “Planning for and dealing with the legal aspects of the introduction of new blood, in a manner that on the one hand protects the existing family members and their interests upon retirement whilst on the other hand provides incentives to an incoming director, is a vital part of providing for the long term success of any family owned company. Long term certainty about succession can also help give businesses and their workforce a clearer short and long term focus.”
Senior Partner, Philip Andrew commented, “SJ Andrew & Sons has built a strong reputation over nearly 100 years, selling the same quality product whilst modernising its approach. For example, we were heavily involved in Cornwall’s tin mining industry when it was thriving, and whilst we continue in engineering our client base these days is more widely spread. With traditional values, we have to ensure that we move with the times and progressing from a Partnership to an Incorporated Company, along with the appointment of Malcolm, is the right thing for our staff, clients, and the business as a whole”.
A true family business, the success has been passed down through the generations from father to son and SJ Andrew & Sons Ltd now employs over 30 people, with one recently retired member of staff completing 50 years service having joined the business at 15 years of age.
Based at South Turnpike in Redruth, SJ Andrew & Sons serves both trade and the public, helping customers with engineering and fabrication requirements, from hand and power tools to welding equipment, pipes and fittings, castors, fasteners, steel and much more!
For more information about SJ Andrew & Sons, please visit http://www.sjandrew.com or call 01209 213171
Pictured L-R: Philip Andrew, Malcolm Reynolds, Jonathan Wilde and Paul Reed.
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