Thu, 22 Dec 2022 | BUSINESS SALE
Agriculture and distribution firm NWF Group has announced the acquisition of fuel distributor Sweetfuels Ltd in a deal worth £10 million. The acquisition of Sweetfuels, a 20 million-litre distributor based in Oxfordshire, adds a 26th depot to NWF’s growing UK presence as it continues to pursue M&A growth and geographic expansion.
NWF’s strategy sees it target consolidation in the UK’s highly-fragmented fuels market and, following the acquisition of Sweetfuels, the company says that it has a “healthy” pipeline of future M&A prospects.
Sweetfuels is based in Faringdon, Oxfordshire and primarily serves domestic customers across the Cotswolds, covering Oxfordshire, Gloucestershire, Berkshire and Wiltshire. NWF expects the acquisition to be immediately earnings enhancing for the group.
NWF Group CEO Richard Whiting says that the company has a “strong platform” for further growth, as it continues to leverage its expanding geographic footprint and targets further M&A activity.
Whiting added: "We are delighted with our performance in the first half and to announce the acquisition of Sweetfuels which adds a 26th depot to our UK footprint in an attractive new geography for NWF.”
"The industry remains highly fragmented, with many small operators, which provides us with further opportunities to consolidate the market and increase our market share. Our pipeline of acquisition prospects remains healthy and this remains a focus for our development activity."
In its accounts for the year ending August 31 2021, Sweetfuels’ fixed assets were valued at £545,387, while current assets were valued at around £3.21 million. The company’s net assets at the time amounted to slightly over £2.8 million.
Find businesses for sale here.
If you are looking for an exit, we can help!.
An exceptional opportunity to acquire a well-established MOT centre and tyre specialist business in Yorkshire, known for its superior customer service and prime location.
This is a unique opportunity to acquire a well-established and highly profitable commercial refrigeration business located in Northern England.
This is an exceptional opportunity to acquire a high-growth, tech-enabled home services platform with a strong brand reputation in the UK and over 100,000 jobs completed since 2019.
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.