Chemicals might be the fundamental building blocks of life but they have also been a great foundation for a thriving business for former Rangiora beekeeper Simon Henry.
His purchase last year of Australian chemical logistics company DG Logistics has enabled him to create a dangerous goods empire that spans both sides of the Tasman.
Henry already owned Chempro, which he has now merged with DG Logistics to create the DGL Group. Although the company still has property at its heart, it’s intended to be a one-stop shop for customers who need to move, blend, formulate and treat chemicals and chemical waste.
“Buying DGL was the glue between all the other companies I own – it gives me the tanker and trucking fleets across New Zealand and Australia for chemicals,” he explains.
The group now has 20 sites across New Zealand and Australia, and handles about one million tonnes of dangerous goods each year. It employs more than 300 staff and produces annual revenues of more than $150 million.
Henry insists he never set out to be wealthy. “As I joke with them at work: ‘It happened by accident, so don’t look to me for leadership or maturity’.” However, he admits that he enjoys a challenge — particularly a commercial one — and says his younger brother may be partly right when he describes his older sibling as “hyperactive.” “I don’t know if that's fair, but there may be something in it.”
His interest in property was sparked after the 1987 sharemarket crash when friends began dealing in houses. “They were selling them before they bought them, and making so much money so quickly. I just decided to do it with a bit more care to the detail.”
After buying commercial properties in Christchurch, he shifted north to Auckland where he bought more properties, as well as Chempro.
He remains active in property investment and development, particularly in Christchurch, and describes his 60ha Belfast Business Park as a “roaring success.” In 2017, he bought a 4.6ha property in Christchurch from BOC Gases, and recently acquired 1ha of coolstores from Independent Fisheries.
He still owns several commercial office buildings and industrial plants in Wellington, and is keen to acquire more industrial property throughout New Zealand and Australia. He is also keeping an eye on other businesses that might be a good fit for the group.
“I’m trying to put together a diversified industrial group in Australia and New Zealand, similar to Hellabys, and in many ways I’ve achieved it. It’s heaps of fun running it.”
Reflecting on his success, Henry admits he gets a lot of personal satisfaction from running the business. He also takes pride in paying his staff well, and believes better productivity through automation is the key to higher wages. His company’s mantra is: “Fewer people; working better; better paid.”
“The way to lift people out of poverty is good jobs and good business, not through giving them handouts, and I probably subscribe to the idea that good, vibrant, well-paid jobs are the backbone of our society and economy.”
Meanwhile, he is also busy completing a new home in the Auckland suburb of Parnell, alongside his neighbour, former prime minister Sir John Key.
Henry travels regularly and widely but is still happy to call Auckland home. “It’s a very pleasant place to live — never too hot, never too cold,” he says.
2018: $180 million