Lindsay Fox and Linfox share buys in the transport and logistics space has raised mainstream interest
Share purchases by Lindsay Fox and Linfox in the transport and logistics ( T& L) space have become hard to ignore, with even the mainstream press taking notice.
In December, Linfox made a $ 6.8 million purchase of K& S Corporation shares.
Last month, it raised holdings from 8.46 per cent to 9.57 per cent of K& S, paying $ 470,280 for 271,255 shares.
Based on the top-20 shareholders stated in the K& S 2015 annual report, that could be the second-highest individual holding.
It is the latest in more than 30 share nibbles that have come every few days. Likewise, as the Australian Financial
Review already noted, Lindsay Fox’s Alljet Investments has been taking a series of chunks of ports-focused eastern states firm Chalmers over the past few years.
As of mid-February, when it spent nearly $ 46,000 on more than 15,000 shares, Alljet has 17 per cent of Chalmers.
This seems to have gained momentum at the start of last year, when the shareholding was 10.57 per cent, after a hiatus two and a half years.
The buys put Fox in second position in the company, below container parks director Gary Chalmers on 19.37 per cent.
“We continue to see value in the stock at their current levels and have taken the opportunity to expand our holding,” a Linfox spokeswoman says.
Fox is not the only T& L player with an interest in Chalmers, with Qube Equity having 4.09 per cent stake.
Meanwhile, K& S is keeping tabs on major client Arrium, for which it has a number of transport and logistics contracts in place hauling finished steel.
Arrium is in voluntary administration with difficulties centred on its Whyalla steel works and mining operations – neither are related to the contracts.
Recently, K& S said it was in talks with administrator Grant Thornton “regarding the ongoing provision of transport and logistics services to the Arrium Distribution Business.
Since then, Korda Mentha has taken over Arrium’s administration.