Pinsent Masons advises DCC on the acquisition of oil distribution assets from Total in Britain, the Isle of Man and the Channel Islands
International Law firm Pinsent Masons has advised DCC plc on the conditional acquisition from Rontec Investments LLP of oil distribution assets currently owned by Total for approximately £59 million.
Total Butler is a transport, commercial and home heating oil distribution business. DCC will acquire 40 Total depots and the right to supply fuel to 300 retail service stations across the UK. The acquired business employs 550 staff, has a fleet of 200 transporters and sold 1.5 billion litres of fuel in 2010. The deal is part of a larger acquisition by Rontec of Total oil distribution assets, due to be completed by the end of the year.
The Pinsent Masons team advising on the deal was led by Corporate Partner, Andrew Kerr, assisted by Legal Directors, Catherine Hemsworth and Ian Mckie.
Tommy Breen, Chief Executive of DCC, said: "This acquisition represents a further significant step forward in DCC's growth strategy in oil distribution in Britain. It will considerably extend DCC Energy's presence in England and Wales and will also enhance our ability to serve customers throughout the market."
Commenting on the deal Andrew Kerr said: "This was an extremely complex transaction delivered effectively by the Pinsent Mason team working closely with the DCC team. We are delighted to have assisted DCC in this significant deal."