NWF gobbles up Staffordshire Fuels
AGRICULTURAL distribution specialist NWF Group, based in Nantwich, Cheshire, has bought Staffordshire Fuels – a 32 million litres per year fuel supplier.
The deal is a bolt-on acquisition of the company which distributes fuel in Staffordshire and the West Midlands.
It will increas NWF Fuel’s annual income by 8% and will be earnings enhancing in the first full year.
Staffordshire Fuels was established in 1996, operates a modern fleet of seven tankers and is an approved supplier of Phillips 66 fuel, branded as Jet, based near Stone in Staffordshire.
It will continue to operate as a standalone fuel depot in line with the Group’s multibrand strategy in fuels, with finance and administration being consolidated into existing operations.
The acquisition was funded from NWF’s existing bank facilities.
Chief executive Richard Whiting said: “The acquisition is in line with our growth strategy, increases our penetration in Staffordshire and the West Midlands and will be earnings enhancing in the first full year.”
North West law firm Brabners advised NWF Group on the deal. Dow Schofield Watts provided financial due diligence advice to NWF whilst RSM provided tax advice. Gateley and KBS Corporate (David Gardner) advised the vendors.
