Stellex Capital Management has acquired Fox Brothers Holdings Group, marking a significant change in ownership while maintaining current leadership.
- The acquisition includes a merger with J A Jackson, enhancing Fox Brothers’ capabilities in the construction materials industry.
- Key figures in the new management structure include Mark Joel as company chair and Andy Swinnerton as COO.
- Fox Brothers, a longstanding family business, continues to evolve, leveraging its extensive industry experience and resources.
- The acquisition aligns with Stellex’s strategy to bolster growth through operational expertise and asset utilisation.
Stellex Capital Management has successfully acquired Blackpool-based haulier Fox Brothers Holdings Group, a deal that ensures the continued leadership of CEO Paul Fox. This strategic move integrates Fox Brothers with Preston-based J A Jackson, expanding its reach and operational capabilities in producing recycled aggregates and ready-mix concrete.
The management reshuffle sees Mark Joel taking on the role of company chair and Andy Swinnerton stepping in as chief operating officer. Both are set to work closely with Paul Fox to drive the company towards becoming a leading vertically integrated construction materials business.
Fox Brothers, established in 1932, operates with a significant fleet of 119 trucks and 26 trailers, employing approximately 600 staff. It offers a range of services linked to the construction and infrastructure sectors, including the haulage of aggregates, waste recycling, and quarry operations.
In recent years, Fox Brothers has also pursued strategic acquisitions including Hurt Ltd and JJ O’Grady, underpinning its commitment to expanding within the integrated construction materials market. This latest acquisition by Stellex is expected to further enhance its capacity to deliver sustainable solutions.
Paul Fox expressed his enthusiasm regarding the acquisition, stating, ‘We are delighted to welcome Stellex, Mark, and Andy to our group. This is an extremely exciting time for the company and with their help and the integration of J A Jackson, we are now in a position to transform the company.’
In a joint statement, Joel and Swinnerton highlighted their growth strategy, which focuses on both organic and inorganic growth avenues. They emphasised their aim to make the company a leader in the circular economy of construction materials.
Stellex managing partner Mark Redman noted, ‘We see strong potential in the company’s capabilities and resources and look forward to working with management to deliver on our value creation plan.’ This acquisition underlines Stellex’s commitment to enhancing company value through operational improvements and strategic asset management.
The latest financial results for Fox Brothers indicated a 20% rise in revenue, reaching £99 million. However, operating profits saw a decline, largely due to investment overheads, falling from £8.2 million to £6.9 million.
The acquisition of Fox Brothers by Stellex Capital Management signifies a forward-thinking strategy to enhance the company’s industry standing and operational effectiveness.
