Tue, 11 Apr 2023 | BUSINESS SALE
Haulage and aggregates business Fox Group has expanded with its tenth acquisition within the space of three years. The group has acquired Stockport-based aggregates and muckaway contractor Tipworx Ltd in a deal that brings its fleet to 360 wagons and over 4,500 items of plants and machinery.
Fox Group began its acquisition drive with the takeovers of Clive Hurt Plant Hire and sister firm CMP Plant Hire in 2020. Since then, the group has acquired Celpas, JJ O’Grady, Blackledge Plant Hire, CRH Plant Hire, Woods Waste, Midland Site Services and B&W Plant Hire Sales.
Tipworx was founded in 2014 and serves clients across Yorkshire, Manchester, Derbyshire and the wider North West from its Stockport base and has a rental fleet of nine wagons. In its accounts for the year to October 31 2022, the company’s fixed assets were valued at £793,675 and current assets at £669,400, with net assets valued at £645,412.
Fox Group managing director Paul Fox commented: “This acquisition makes perfect sense for us. Tipworx is a well-run business with great people and has a track record of providing excellent services to a wide range of clients across the region. It also means that we get a welcome boost to the Group’s existing fleet of vehicles, and recycled aggregates supply.”
“Tipworx and Managing Director, Darren Brocklehurst, are a welcome addition to the Fox Group. It is a major part of our Group’s continuing strategy of growth.”
The acquisition comes at a time when Fox Group, which was established in 1932, is seeking to boost its sustainability initiatives and reduce its carbon emissions. The company has invested in adding electric tipper wagons to its fleet and has more than halved its carbon emissions through the recent opening of a railhead, enabling it to increase stone deliveries without the need to add to its fleet.
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