NWF swoops for Midlands fuel firm

NWF, the Cheshire-based distributor of food, fuels and agricultural supplies, has bought Warwickshire-based Eveson Fuels for £3.3m. 

Eveson Fuels has storage facilities capable of holding 80m litres of fuel. Its main base is in Kenilworth but it also has depots at Droitwich, Long Marston and Southampton. The firm operates a fleet of 21 tankers.

In the year ended May 2010, the company made an operating profit of £100,000 on sales of £51.8m and had net assets of £2.7m. NWF will integrate the business into its existing 13-depot structure and would retain the Evesons brand.

It said that the deal will be financed from its own cash resources and is expected to be earnings-enhancing within its first full year of ownership.

Chief executive Richard Whiting said NWF was “excited by the opportunities that this acquisition provides”.

“It represents an excellent significant bolt-on to our fuel division’s operations, expanding our geographic coverage and serving a good customer mix from a
well-invested business.

“Following the acquisition, NWF Fuels will deliver over 430 million litres of fuel
to over 30,000 customers from 17 sites across the UK.”