Greenergy acquires Inver Energy
Inver Energy Ltd has announced the sale of 100% of its share capital and all other interests to British distributor Greenergy.
13 July 2017
Inver Energy Limited has announced the sale of 100% of the company’s share capital to Greenergy. The sale includes 100% share of Inver Energy (UK) Limited, Inver’s UK subsidiary, and Inver’s 50% share of the Atlantic Fuel Supply Company Limited and its oil terminal in Foynes.
Invers’s business activities include import and storage facilities, fuel supply operations, and an Irish retail dealer network. Inver’s existing management team will remain in place and Chris O’Callaghan, Inver’s Managing Director, will join the Board of Greenergy Fuels Holdings Ltd.
“This acquisition by Greenergy is a very exciting opportunity our company,” said Chris O’Callaghan, Inver’s managing director. “Greenergy and Inver are a close cultural fit, and the two businesses align very well together.
“Inver’s existing management team will remain in place,” O’Callaghan said, “as will our commitment to our customers and their businesses.”
Greenergy Chief Executive Andrew Owens said both companies fit because their are both customer-focused. “We are can-do businesses,” he said, “and together we will maintain our focus on safety, operational reliability, low costs and superior customer service.”
The deal is subject to standard regulatory approvals and conditions.