Background
Thrings has enjoyed a close working relationship with Watson Petroleum for almost six decades. The fuel distribution business, which currently employs 670 staff, supplies commercial fuels and industrial lubricants throughout the UK via its network of 45 depots and approved suppliers.
Our involvement
In the last decade, John Davies has worked alongside Watson Petroleum’s managing director Tony Watson and his team on the acquisition of more than 20 fuel distribution businesses throughout the UK.
During the company’s own acquisition, John Davies and Simon Hore worked closely with Watson Petroleum on all strategic and legal matters, helping to secure an excellent outcome for the business and its shareholders.
Under the terms of the deal, Tony Watson remained as Managing Director while also overseeing all World Fuel land distribution businesses in the UK.
The $191m transaction deal signals the latest stage in the relationship between Thrings and Watson Petroleum.
The outcome
World Fuel Services’ extensive capabilities, breadth of products and services, and financial foundation provided Watson Petroleum with a rare strategic opportunity to expand its offering, develop its distribution network and generate new prospects for clients and employees.
Describing his partnership with Thrings, Mr Watson said: “Our relationship throughout the process was fundamental to the deal’s success. John and Simon were thorough, meticulous and demonstrated great commercial awareness at every stage, as well as being friendly and extremely easy to deal with. I can always rely on John and his team to provide a first-class service and a level of discretion which cannot be underestimated.”
For further commentary on this case, or to discuss any commercial-related issue, please contact a member of Thrings' Commercial team.