Sale of Sweetfuels to NWF Group Plc
Headpoint Advisors has advised Adrian Sweet, founder and Managing Director of Sweetfuels Limited in its sale to NWF Group Plc. The sale completed on 21 December 2022.
Sweetfuels is a fuel distributor based in Faringdon, Oxfordshire, supplying heating fuel to domestic and commercial customers across the Cotswolds and south-central region. Founded in 2005, the business supplies over 20 million litres a year to its mainly residential customers.
NWF Group plc is a specialist distributor of fuel, food and feed across the UK, headquartered in Nantwich, Cheshire and listed in London. The group had revenues of £879m in the year ending 31 May 2022 and around 1,280 employees. The Fuel division is the largest division by revenue (70%), delivers 663m litres of fuel annually, has around 109,000 customers and operates out of 25 depots.
The acquisition further expands NWF’s Fuels business and infills geographic coverage within the UK. Sweetfuels will become its 26th depot in an attractive new geography and the acquisition is expected to be immediately earnings enhancing.
Headpoint was appointed because of our track record of working successfully with family-owned businesses and our experience in selling high margin businesses within a fragmented sector.
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