Wayne Fueling, the US-based global provider of fuel dispensing, payment, automation, and control technologies for fuel stations, has agreed a deal with Vianet Group plc to acquire its fuel management subsidiary.
UK-based Vianet Fuel Solutions (VFS) includes two main product lines as part of the Wayne acquisition: Fuel Management Solutions (FMS) and Construction and Forecourt Services (CFS). FMS comprises real-time wet-stock management, asset management and compliance monitoring services. CFS aligns with Wayne’s current UK services business, and provides additional services including forecourt construction, electrical compliance services and tank lining.
“The decision to acquire Vianet Fuel Solutions is a natural fit for the Wayne business as it helps further our goal to offer fuel management capabilities to our customers,” said Neil Thomas, Wayne chief executive officer.
“The Vianet business already has existing customers in the UK, has a knowledgeable team, and has competitive and comprehensive fuel management solutions that complement our product and services offerings.”
James Dickson, chairman of Vianet Group, said: “Over the past two years, VFS has made significant commercial progress and has established a strong reputation in the UK forecourt sector. This transaction recognises the value which has been created.
“While it will be sad to say farewell to the VFS team, I am pleased that there is a great fit with Wayne which will take VFS to the next stage of development and growth in a competitive landscape increasingly dominated by major global players such as Wayne.”
The closure of the acquisition is anticipated to occur in first quarter of 2016.