Brulines pumps cash into RFS deal
Who?
Desford-based Retail & Forecourt Solutions (RFS).
Did what?
Has been sold to the Brulines Group for an initial £1.2m.
What does this mean?
RFS deals in fuel pump calibration, adjustment and legal verification, and is also a provider of forecourt audit and compliance services. It was established in 1995 by managing director and majority shareholder Michael Hollier following a senior management career in the motorway services forecourt industry. Francis Hollier, currently RFS technical director, will assume the role of managing director of RFS, reporting to Phil Maud, managing director of Brulines’ forecourt service division.
Who advised?
Brulines was advised by West Yorkshire law firm Gordons.
Insider comment:
Brulines appears to have bought RFS to take another step towards offering a full integrated service, and chief executive James Dickson believes it will be “earnings enhancing from the outset”.
Brulines made just over £4m pre-tax profit in the year to 31 March 2010 against turnover of £19.83m, mostly driven by its leisure divisions. Dickson said the company intends to “replicate in the forecourt market our success in the leisure sector”.
This is Brulines second recent acquisition in the sector, having bought Energy Level Systems, the distributor of OPW Fuel Management Systems, in March for up to £2m.
