Sweet deal rounds-off 2022 for corporate team

Fuels business NWF acquires Sweetfuels for £10 million

In December, Lodders Corporate team, led by Graham Spalding and assisted by Nicole Romera and property and environmental partner, Lee McBride, were delighted to complete the sale for the owners of Sweetfuels to AIM listed NWF.

This follows hot on the heels of the team acting for the sellers of Frontier Development Capital to AIM listed Mercia Asset Management.

Fuels business NWF acquired Sweetfuels for £10 million to bring its network of UK depots to 26.

The addition of Oxfordshire based Sweetfuels to NWF’s business expands and infills NWF’s geographic coverage of its fuels business within the UK and is aligned to a strategy of consolidating in the highly fragmented fuels market and expanding geographically.

Attractive new geography

Richard Whiting, chief executive of NWF, commented: “We are delighted to announce the acquisition of Sweetfuels which adds a twenty-sixth depot to our UK footprint in an attractive new geography for NWF. We have a strong platform for continued growth as we leverage the benefits from the further expansion of our growing network.

“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.”

Lodders Corporate team provides expert legal advice to owner managers and business owners looking to divest, grow and raise finance.

To discuss how Lodders can help you realise value in your own business, please contract:  Graham Spalding, 07841 899 294,  graham.spalding@lodders.co.uk.