DCC buys UK fuel group
Business support services group DCC, has acquired Southern Counties Fuels Holdings Limited (SCFH), a oil distribution business operating in the south east of England, for €9.75m.
SCFH sells heating and transport fuels to a broad range of domestic, commercial, agricultural and transport customers and operates from 8 depots with a fleet of 60 road tankers and 135 employees. Its business will be integrated within DCC Energy’s existing oil distribution business in Britain.
DCC has spent €95m on the acquisition of oil distribution companies in Britain in the current financial year ending March 31 2008, including CPL Petroleum announced in July 2007, SCFH and a number of smaller businesses.
Executive chairman of DCC, Jim Flavin, said: “The acquisition of SCFH represents a further step in DCC’s strategy of consolidating the fragmented oil distribution business in Britain and will further enhance DCC Energy’s position as the leading oil distributor in that market.”
