$2.5 billion on trucks: how a truck driver built a logistics empire

Australian businessman Lindsay Fox began at the age of 17 as a truck driver, and in half a century has built the country's largest logistics company with an annual revenue of $2 billion.
25.09.2015
RBC
Origin source
According to Forbes, September 24 state of Australian Lindsey Fox was equal to $ 2.5 billion. In the list of the richest residents of Australia, which was the publication in January 2015, Fox takes the 9 th place. The main asset of the businessman - the operator Linfox transportation, the largest in the country and in the Pacific, a private logistics company.

Children's passion

Fox chose a career as a teenager and did not change this choice. He was born in Sydney in April 1937 in the family of the truck driver. The parents soon moved to the Melbourne suburb where Lindsay went to the district school, then enrolled at the Higher School of Melbourne, one of the most prestigious colleges of the country's toll.

In the second year Fox was kicked out of college due to weak interest in learning. Freed from regular classes, he decided not to waste time - to hand over the rights to a father, engaged in cargo transportation. According to the laws of the State of rights can only be obtained with a 18, and then the boy was only 17 minutes. As later recalled Fox, no one bothered to check his birth certificate.

From the truck to the Empire
In 1956, 19-year-old Fox founded the company in his own name: Ford bought a truck on credit and started to work on it - drove the charcoal on one of the gas stations in Melbourne. In 1959, Lindsay married. Being in the early 1960s, a young father, he realized: to provide for the family, it is necessary to expand the business. Fox began to buy more trucks and hire drivers, and renamed the company of Lindsay Fox in short Linfox. Chance to quickly grow the company made a contract with British Petroleum for the supply of fuel oil private individuals in Melbourne. By 1967 Linfox fleet consisted of 60 trucks, carrying oil across the east coast of Australia.

In 1970-1980-e Fox constantly expanding business, covering new regions of the country and the industry: freight, warehousing, etc. In 1987 Linfox held an IPO on the Australian Stock Exchange, but Fox has bought the shares back and Linfox again became a family business two years later. Since then, the Australian media at least twice there were rumors about the intention Linfox return on a stock exchange, but it never happened.

In the 2000s Linfox actively buying logistics companies. So, in 2003 it acquired the collector company Armaguard, in 2006 - carriednly containership operators in 2007 - his rival Westgate Logistics.

For a long time Linfox was only one overseas branch - in Shanghai. In the 1990s and especially in the 2000s, the company held an active international expansion, becoming an international corporation with branches in Indonesia, Thailand, Singapore, New Zealand, Malaysia, Vietnam, India and other countries (of - ten). According to the company, in foreign affiliates Linfox now work 19.2 thousand. People, or 84% of employees.

Father of the year

In 1992, the Fox was a tragedy. One of the sons of Fox, 23-year-old Michael, committed suicide (not made a break with my wife). "All my life to her son's death, I thought that I was all at all, but then I realized that it is not, - confessed to Fox in 2004. - I'd give anything to get my Michael. " Another son of David Fox said that grief united the whole family: "Life - it is a great value, and we should appreciate every day, we just can not know what will happen tomorrow."

A year after the death of the son of Fox, together with the Australian Council of Trade Unions launched nationwide toampaniyu "Work to Australia." The program, which allocated state subsidies, was designed to increase employment. Unemployment in the country then was one of the main causes of suicide in men. During the one and a half years Fox traveled around the country, persuading employers to create jobs, what eventually accumulated more than 60 thousand. Fox has advised the Australian Government on the issue of youth suicide and was a board member of the National Advisory Council on the prevention of suicide. For social work Fox in 1992 in his home state of Victoria he was awarded the title of "Father of the Year".

Successors and heirs

Today Linfox - the largest private logistics company in Australia. In addition to cars and warehouses, two airports Melbourne aviahaba under its control: the Avalon and Essendon. According to research firm IBISWorld, in 2015 Linfox took 7 th place in the ranking of the largest companies in Australia with an annual revenue of 2.8 billion Australian dollars ($ 2 billion).

Fox walked away from direct management of the company, is now at the helm of his children (a total offive). Senior, Peter, in 1995, became executive chairman of Linfox Group. His brothers Andrew and David headed real estate development and airport division of the family business - Linfox Property and Linfox Airports, sister Katrina and Lisa are engaged in PR and marketing.

Reporters have repeatedly asked the question, what will happen to the business empire Linfox, when there will be its founder. "According to statistics, 90% of the second generation of business dynasties removed from Family Business Management, - says the eldest son of Peter Fox. - We want to get to 10% of those lucky ones who managed to avoid it. "

Adult passion

Lindsay - the owner of an impressive collection of representative class vintage cars. Entrepreneur collected them for over 30 years. Now his collection of almost fifty items - Bentley, Ferrari, Jaguar, Porsche, Rolls Royce, Mercedes-Benz.

Business Linfox in figures

$ 2.5 billion - the state of Lindsay Fox

$ 2 billion was Linfox revenue in the 2014-2015 fiscal year

7th place is Linfox in the top 500 companies in the country

1.5 t - load capacity of the first car Lindsay Foxa, it was the Ford F-500

Over 5 thousand trucks -. Fleet Linfox

Linfox 16 offices in ten countries

23 thousand. People work in Linfox

Sources: Forbes, Fox Collection, IBISWorld, Linfox

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