Staffs firm acquisition fuels NWF growth plans

AGRICULTURAL distribution specialist NWF Group has bought Staffordshire Fuels – a 32m litres per year fuel supplier.

The deal is a bolt-on acquisition of the Stone-based company which distributes fuel in Staffordshire and the West Midlands.

It will increase 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.

It will continue to operate as a stand-alone fuel depot with finance and administration being consolidated into existing operations.

The acquisition was funded from the NWF Group’s existing bank facilities.

NWF Group’s 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.”