Wayne Fueling Systems reveals another takeover
International fuel dispenser manufacturer Wayne Fueling Systems has announced its second takeover in two weeks.
The US-based firm said this week it was to expand its fuel management services after reaching agreement to acquire statistical inventory specialists Simmons Sirvey.
The news follows the company’s acquisition of the fuel management services subsidiary of UK-based group Vianet on December 8.
Vianet Fuel Solutions Limited (VFS) includes two main product lines as part of the Wayne acquisition – Fuel Management Solutions (FMS), and Construction and Forecourt Services (CFS).
FMS is comprised of real-time wet-stock management, asset management and compliance monitoring services. CFS aligns with Wayne’s current UK services business, although provides additional services including forecourt construction electrical compliance services and tank lining.
“The decision to acquire Vianet Fuel Solutions is a natural fit for the Wayne business as it helps further our goal to offer fuel management capabilities to our customers,” said Neil Thomas, Wayne chief executive officer. “The Vianet business already has existing customers in the UK, has a knowledgeable team, and has competitive and comprehensive Fuel Management solutions which complements our product and services offerings.”
Reacting earlier this month, James Dickson, chairman of Vianet Group plc said it will be “sad to say farewell” to the VFS team.
“Over the past two years, VFS has made significant commercial progress and has established a strong reputation in the UK forecourt sector,” he said. “This transaction recognizes the value which has been created.”
Meanwhile, a Wayne spokesperson said the more recent acquisition of Simmons will further help achieve its strategic goal of becoming a global leader in fuel management services to the retail fuel industry.
Speaking about the purchase, Mr Thomas added: “We are excited to reach this agreement with Simmons. Coupled with our recently announced Vianet Fuel Solutions acquisition which also provides fuel management services, Simmons will help complete Wayne’s vision of providing a comprehensive fuel management solution to our customers around the world.”
Both transactions are expected to be completed in the first quarter of 2016.