Mon, 14 Apr 2025 | BUSINESS SALE
Wiltshire-based fuel distribution business Watson Fuels has been bought by Inspirit Capital.
Watson was owned by World Kinect Corporation, a Fortune 100 business in the global energy industry.
The acquisition was backed by a £75 million facility from asset-based lender Secure Trust Bank Commercial Finance (STB CF), with the acquisition marking the firm’s largest deal to date.
Founded nearly 70 years ago, Watson Fuels has a long-established reputation as a trusted provider of fuel, lubricants, and other energy solutions to a diverse customer base, including homeowners, small businesses, large corporates, and the agricultural sector.
Inspirit Capital is a London-based investment firm that specialises in acquiring businesses that are no longer core to their parent company’s strategic objectives and require a different ownership structure to achieve their full potential.
To support the acquisition and future investment plans, Inspirit worked with financial advisory firm Interpath to secure the bespoke facility. This ensured a smooth transition of ownership and provided Watson Fuels with the headroom needed to support a new stage of growth.
Ben Smith, director at Interpath, said: “Inspirit provides an exceptional platform for Watson Fuels to invest in its nationwide network and achieve its independent ambitions. The carve-out is fuelled by a capital-efficient and tailored facility with Secure Trust that has the flexibility to support Watson Fuel’s growth ambitions well into the future. We wish them the best as they step forward into this new era for the business.”
Paul Youens, investment director at Inspirit Capital, said: “Watson Fuels is a well-established business with a strong market presence and a trusted brand. We are delighted to be supporting the company’s next phase of growth as an independent business. This transaction aligns with Inspirit’s expertise in complex carve-outs, and we look forward to working closely with the Watson Fuels team to leverage the company’s strengths and capitalise on emerging opportunities in the sector.”
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