Wed, 19 Jan 2011 | BUSINESS NEWS
The Cheshire-based NWF Group, which supplies and distributes food, fuel and animal feeds, has expanded its fuel offering by 20 per cent with a major acquisition.
The group has acquired Evesons Fuels, which supplies 80 million litres of fuel annually to both commercial and domestic clients from its depots in Southampton, Long Marston Kenilworth and Droitwich.
Evesons has also built up a fleet of 21 oil tankers since it began trading more than 150 years ago, alongside revenues of £51.8 million.
NWF Group purchased Evesons for £3.3 million and in doing so, added 20 per cent to its own annual fuel volumes and cemented its position as the fourth largest fuel distributor in the country.
Analyst Peter Ashworth from Charles Stanley Securities, who assisted in brokering the deal, said, "The acquisition of Evesons Fuels is consistent with the group's ambitions in seeking bolt-on acquisitions as well as start-ups in this division."
Ashworth also predicted that NWF's pre-tax profits would rise in 2012 and 2013 as a direct result of the acquisition, with earnings rising to a high of £7.6 million in 2013.
Chief executive of NWF, Richard Whiting, said, "We are 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 customers mix from a well-invested business."
Once a thriving online garden centre started in 2018, after an internal dispute the business stopped trading in 2022. In a space of just 3 years the business achieved £500k in turnover. This is a perfect opportunity for someone looking for a new...
Presenting an opportunity to acquire a very profitable plumbers and heating merchants business operating nationwide.
Popular and well-regarded Sushi and Ramen restaurant and takeaway, which is situated in a prime city centre location in Norwich. The premises are set over three floors and are presented to an extremely high standard throughout and offers the opportun...
LEASEHOLD
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
25
|
Apr
|
New private equity owner for fleet hire firm | BUSINESS SALE
West Lancashire-based fleet hire business NRG Riverside has ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.