Greenergy complete Inver takeover
The UK’s largest supplier of road fuels has completed its acquisition of Inver Energy.
The takeover of the Irish supplier sees the UK based business extend its presence in the Irish market. The agreement on the deal was announced in July this year.
Inver specialises in import and storage facilities, as well as fuel supply operations in Ireland. The takeover will see Inver’s existing management team remain in place, while managing director Chris O’Callaghan will join the Board of Greenergy Fuels Holdings.
Commenting on the deal, Greenergy chief executive Andrew Owens said: “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-focused, can-do businesses with an emphasis on safety, operational reliability and low costs.”
Inver have also expressed enthusiasm for the partnership, while reasserting their policy of supporting Irish businesses.
Chris O’Callaghan said: “The acquisition by Greenergy is a very exciting opportunity for everyone at Inver. 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 business. I look forward to steering the business through its next stage of development.”
Greenergy sold 85 per cent of its business to Canadian company Brookfield Business Partners in February of this year, and the Inver acquisition follows its commitment to accelerating growth. The UK based company currently delivers to over 650 forecourts, including Nisa and Esso dealers.