NWF Group has acquired Staffordshire Fuels, a 32mlpa fuel distribution business operating in Staffordshire and the West Midlands, for an undisclosed sum.
Staffordshire Fuels was established in 1996, operates a fleet of seven tankers, and is an approved supplier of Phillips 66 fuel, branded as Jet, based near Stone in Staffordshire.
It operates primarily in the commercial and domestic fuel sectors but also supplies a small number of forecourts. The acquisition will increase NWF Fuels’ annual volume by 8%.
Staffordshire Fuels will continue to operate as a standalone fuel depot in line with the NWF’s multi-brand strategy in fuels, with finance and administration being consolidated into existing operations. The acquisition was funded from the NWF’s existing bank facilities.
Commenting on the deal, NWF chief executive Richard Whiting, said: “We are pleased to announce the acquisition of Staffordshire Fuels, a high-quality business with a strong brand. The acquisition is in line with our strategy, increases our penetration in Staffordshire and the West Midlands, and is earnings enhancing.”
NWF supplies about 50 forecourts and offers dealers a choice of branded forecourts in Texaco, Murco, Jet and, in Wales, Dragon.
Mary Wolf, managing director of Phillips 66 UK & Ireland Marketing, commented: “Phillips 66 is a long-term fuel supplier to both Staffordshire Fuels and NWF Fuels, with both companies operating as longstanding Jet-branded authorised distributors.
“Just last year Phillips 66 joined NWF Fuels in celebrating the opening of the company’s new Mansfield depot, the latest fuel distribution depot in its strategic expansion plan. The Mansfield depot is supplied by our Humber Refinery.
“NWF Fuels has been a Jet branded distributor since 1996 and it’s fantastic to see the company continue to go from strength to strength over the years. We would also like to acknowledge the great relationship we’ve had with Staffordshire Fuels over the many years we’ve been working together.
“We now look forward to building on our relationship with NWF Fuels as the business continues to develop its presence in Staffordshire and the West Midlands following the acquisition of Staffordshire Fuels.”