Wayne Fueling Systems has made an agreement to offer greater fuel management capabilities.
Wayne Fueling Systems has reached an agreement to acquire the fuel management subsidiary of Vianet Group plc.
The UK based Vianet Fuel Solutions Ltd. (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 CEO. “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.”
“Over the past two years, VFS has made significant commercial progress and has established a strong reputation in the UK forecourt sector. This transaction recognizes the value which has been created,” noted James Dickson, chairman of Vianet Group plc. “Whilst it will be sad to say farewell to the VFS team, I am pleased that there is a great fit with Wayne who will take VFS to the next stage of development and growth in a competitive landscape increasingly dominated by major global players such as Wayne.”
The closure of the acquisition is anticipated to occur in first quarter of 2016.