Sweetfuels
Energy, Industrials
Headpoint Advisors has advised Adrian Sweet, founder and Managing Director of Sweetfuels Limited in its sale to NWF Group Plc.
Deal Type
M&A
Value
Undisclosed
Sector
Energy, Industrials
Year
2022
Country
UK
A proven track record with family-owned businesses in fragmented sectors.
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.
We are delighted to announce the acquisition of Sweetfuels which adds a 26th 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.
Richard Whiting, Chief Executive, NWF Group plc
It is very pleasing to have advised Adrian on his sale to an acquiror like NWF Group. The geographic fit was excellent as Sweetfuels territory is largely new for NWF and both companies share a customer-centric service model, which makes them highly complementary.
Headpoint Advisors is a founder-led corporate finance firm advising business owners, investors and management teams on company sales, acquisitions and growth capital. With offices in Birmingham, London and Reading, Headpoint combines partner-led delivery with deep sector expertise and international reach.
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