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Greenergy fulfills 'ambition' to expand into Ireland with Inver acquisition

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Posted / Last update: 14-07-2017 | Author: PetrolPlaza Correspondent Daniel Infante Tuaño

Greenergy, one of the leading fuel suppliers in the United Kingdom has agreed to acquire Inver, a leading independent fuel supplier in Ireland.


Source: Greenergy website

Greenergy acquires 100% share of Inver Energy (UK) Limited, Inver’s UK subsidiary, and Inver’s 50% share of the Atlantic Fuel Supply Company Limited and its oil terminal in Foynes, according to a company release.

Inver operates import and storage facilities and supplies petrol, diesel, aviation fuel, and heating oil to commercial and retail customers.

“It’s been a long-term ambition of Greenergy to participate in the Irish market. As entrepreneur-founded private businesses, Greenergy and Inver are a perfect structural and cultural fit to fulfil this ambition. Both are customer-focussed, can-do businesses with an emphasis on safety, operational reliability and low costs," said Andrew Owens, Greenergy Chief Executive.

Inver’s existing management team will remain in place and Chris O’Callaghan, Inver’s Managing Director, will join the Board of Greenergy Fuels Holdings Ltd.

"While we are now part of a significantly larger business, we will continue to think and act ‘local’ and will maintain our commitment to our customers and their businesses. I look forward to steering the business through its next stage of development,” said O’Callaghan.

The transaction is subject to the usual regulatory approvals and closing conditions.

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