Inver to keep name after takeover

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Inver is to keep its current trading name after its acquisition by British fuel distributor Greenergy.

Inver Energy Limited announced last week the sale of the company’s total share capital to Greenergy, which includes 100% of Inver Energy (UK) Limited, Inver’s UK subsidiary, along with its 50% share of the Atlantic Fuel Supply Company  Limited and its oil terminal in Foynes.

Invers’s business activities include import and storage facilities, fuel supply operations, and a growing Irish retail dealer network.

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. It is also understood the company will continue to trade under the Inver name on its forecourts.

Chris O’Callaghan, Inver’s managing director said: “The acquisition by Greenergy is a very exciting opportunity for the company. Greenergy and Inver are a close cultural fit, and the two businesses align very well together.

“Inver’s existing management team will remain in place as will our commitment to our customers and their businesses. Greenergy’s global reach and financial resources will allow Inver to execute our growth strategy across all facets of the business. I look forward to this next step for the business, and while Inver will be part of a multi‐national business, we will continue to think  ‘local’.”

Andrew Owens, Greenergy chief executive, added: “Greenergy and Inver are both customer-focussed, can‐do businesses, and together we will maintain our focus on safety, operational reliability, low costs, and superior customer service. By combining Greenergy’s global origination skills with Inver’s storage facilities, branded retail dealer offer and strong local customer relationships, we aim to accelerate the expansion of Inver’s business in Ireland. The transaction is subject to the usual regulatory approvals and closing conditions.”

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