Fuel Proof Limited acquired by Argent Industrial Limited
In a sale advised by KBS Corporate, Argent Industrial have acquired Fuel Proof Limited for an initial consideration of £4.6m, with this potentially rising to £6m subject to future performance
Fuel Proof is a leading manufacturer of bunded fuel storage equipment. The company offers a range of fuel storage solutions and services, including fuelcubes, diesel tanks, water storage, and waste oil storage tanks, with each individual component manufactured in-house to the highest possible standard.
The company manufactures products for both UK and international clients serving sectors such as aerospace, engineering, oil & gas, aviation and utilities.
The shareholders of Fuel Proof instructed KBS Corporate to find a buyer for the business, as they are looking to explore unrelated interests after a transitional period.
A thorough research strategy was implemented and several interested parties came forward. Ultimately, a deal was agreed with Argent Industrial, a South African based buyer who are listed on the Johannesburg Stock Exchange.
Tom Eatough, Associate Corporate Director, advised on the sale and commented: ‘I have enjoyed working on this deal and providing advice to our clients throughout the process. Fuel Proof will make a great addition to Argent Industrial’s portfolio of manufacturing companies and I would like to wish both parties all the best for the future.