South-wales based Fox Moving and Storage marks its 40th anniversary.
2011 marks the 40th anniversary of South Wales-based company Fox Moving and Storage. The family firm, which was established by Roy Fox in Cwmbran in 1971, is the largest removals and storage company in Wales and has gone through various mergers, acquisitions and rebranding before consolidating everything under the Fox banner in 2000.
Whilst it’s the largest removal and storage firm in Wales with locations in Cardiff, Cwmbran, Newport and Newtown, the company does much of its work outside the principality with additional premises in Bristol, Southampton and Stourbridge, supplemented by a franchise network of 14 agents ensuring that Fox has UK-wide coverage.
Managing Director Paul Fox said: “When my father established Fox 40 years ago he was determined to make a success of the business and from an initial investment of just £6,500 he opened Wales’ first purpose-built container warehouse complex within 8 years. But he could never have foreseen the way that the company would evolve. We are proud to be celebrating our 40th anniversary which is testament to the hard work and dedication that has been shown by all our staff during that time.”
Whilst the company is proud of its success, it has not been easily won as Paul explains: “In 2006 we were acutely aware that storm clouds were gathering – in our view the housing market inflation wasn’t sustainable and we were waiting for that bubble to burst. We knew that it was vital for us to diversify in order to survive in a potentially difficult market.”
This diversification is tangible and there has been a massive shift in Fox’s focus during the company’s history. Whereas when it started it was entirely UK-based removals, the business has now found a different balance with approximately 50% of revenue coming from international moving with the depleted local housing markets now only accounting for 16% of business. Military family relocation, office moving and storage currently make up the balance of its turnover.
To facilitate these changes, in 2007 the company sold two underutilised freehold warehouses in Newtown and Cardiff. This freed up capital to secure the company’s future.
After spotting a gap in the market in 1995, the company diversified into self storage and has increasingly invested in these facilities as a means of underpinning its traditional removals business. The self storage facilities are driven by customer demand with busy householders and expanding businesses needing instant access to secure space.
The company additionally has a strong foothold in the international market and acquired the UK depot of the giant American vanline, ATLAS. Fox has successfully managed to integrate the business which is situated in the container port of Southampton. Company Director Stephen Denning instigated the deal as part of his drive to grow the international side of the business. Fox works with international organisations worldwide and has military contracts which sees it relocating 1,000 military families annually to and from bases all over the world.
In acknowledgment of the increasing revenue coming from international removals, Fox continue to focus its attention on this growing market as well as placing a bigger emphasis on corporate clients and business moving.
Paul said: “In our 40 years, nothing has had the same impact on our business as the crash in the housing market which effectively decimated the removals industry. In these circumstances doing nothing is not an option and the contraction we instigated in 2007 enabled us to maintain a strong financial base and move forward whilst others foundered.”
“However, despite the difficulties faced over the last few years we are hopeful for the future. We believe that intuition and sound judgement have played a large part in our longevity and that forward planning has allowed us to prosper, even in the worst of times. We are optimistic that we are in an ideal position to benefit from a resurgent market when the upturn eventually comes.”
Very much a family firm, founder Roy retired 16 years ago but remains part of the company as a non-executive director. Son Paul joined the firm in 1977 and grandson Daniel came on board three years ago, ensuring that the Fox family are still a driving force in the company’s success.
Starting at an office in a terraced house in 1971 the firm went on to form a national group by 1986. This has allowed the company to develop a sophisticated business, enabling it to facilitate a one stop shop for all moving & storage needs. In these 40 years it has gone from strength to strength, with its green liveried vans becoming a familiar sight on the roads of south Wales, the UK and even thousands of miles away in Continental Europe.
Winners in the generation game - left to right: Paul Fox, Managing Director; Roy Fox, founder and grandson Daniel.