England, UK: DCC Complete Pace Fuelcare Acquisition
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Tuesday, 04 October 2011 |
Irish firm DCC has completed its acquisition of the UK-based Pace Fuelcare, having received approval from the Office of Fair Trading (OFT) for the tranaction. The deal, originally announced in February, sees DCC purchasing the entire share capital of Pace, which operated from 19 locations across southern England, from MRH.
Pace sold 455 million litres of fuel in the 12 months to September 2010, and boasts a fleet of 83 road tankers and 201 employees. Following consultations with the OFT, DCC agreed that MRH would retain Pace’s Isle of Wight business, worth approximately 10% of the company’s overall volumes. The revised deal is worth a total fee of €23m.
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