DCC acquires Oakwood Fuels

Irish distribution group DCC has acquired Oakwood Fuels, a hazardous waste business in the U.K., for €10.8 million in cash up front. Further payments will be based on  Oakwood’s profits in each of the three financial years to March 2014, up to a maximum of €22.5 million. Oakwood takes waste lubricating oil and hazardous waste and converts it into processed fuel oil.  Oakwood has 105 employees.  The processed oil that the company produces is used for road surfacing operations, aggregate drying, industrial and agricultural drying, power stations, large boilers and furnaces. Timmy Breen, DCC chief executive, said the acquisition of Oakwood would broaden DC’s C ability to capitalize on the trend towards more sustainable waste management and increased waste recovery and recycling. (June 23, 2011)