Graham Middleton on Corporate Happenings

ARB Buys Truckman

ARB Corporation has bought Truckman Group LTD a UK based manufacturer and distributor of utility accessories mainly focused on rear of vehicle products such as canopies/hard tops, bed liners and general utility vehicle products. Truckman is described as the nationally recognized brand leader in the United Kingdom. ARB states that it meets its expanding international distribution and aligns with its evolving product strategy. The Truckman business is based at its head office and central distribution hub in Birmingham UK.

The purchase is being funded from ARBs existing cash resources and is expected to operate profitably from the commencement of ARB ownership, effective 2 march 2021.

I own ARB Corporation shares in my family superannuation fund and investment portfolio.

Qube Holdings Selling Part of its Moorebank Development.

Qube has announced that it is in advanced stages of negotiation to sell a major part of its Moorebank NSW development to Logos, by disposing of whare housing and development but retaining ownership of its intermodal rail/road terminal facilities which fit well with its primary logistics business running ports, its rail infrastructure and grain handling terminal.

Qube is also understood to be a potential buyer of Toll’s bulk freight operations, oil and gas logistics arm and potentially Toll’s government services arm. Japan Post which bought Toll Holdings has experienced well publicized difficulties and Toll was clearly a company with many problems which Japan Post discovered after purchase. Toll’s purchase by Japan post is an object lesson of the pitfalls in not doing adequate due diligence.

I own Qube Holdings shares in my family Superannuation fund.

Xero Buys Planday

Xero Ltd has announced the acquisition of Planday, a leading workforce management platform with more than 350,000 employee users across Europe and the UK. It simplifies employee scheduling, allowing businesses to forecast and manage their labour costs.

Planday is described as an open platform that integrates with Xero, other accounting solutions and other workforce related apps, to deliver a real time view of staffing needs and payroll costs, alongside key business metrics.

Following the acquisition, Planday will expand its presence into other markets where Xero operates supporting Xero’s long term growth plans.

I own Xero in my family superannuation fund and investment portfolio.