Fusion Fuel Signs Non-Binding LOI for British Fuel Distributor

Deal News | Apr 09, 2025 | Globenewswire

Fusion Fuel Signs Non-Binding LOI for British Fuel Distributor

Fusion Fuel Green PLC, a leader in energy engineering and advisory solutions, has announced the signing of a non-binding letter of intent to acquire a privately held British fuel distribution company. The transaction, valued at $50 million, includes payments in cash and company shares. The Target company, which generated $54 million in revenue and $7 million in net income in 2024, aligns with Fusion Fuel's strategic objective of expanding their energy distribution sector foothold. CEO John-Paul Backwell noted the importance of this acquisition to their growth strategy, building on their prior acquisition of Quality Industrial Corp. This move marks Fusion Fuel's intent to broaden its geographic reach into the UK market. The completion of the transaction is contingent upon further due diligence, negotiation of definitive agreements, and regulatory approvals.

Sectors

  • Energy Distribution
  • Corporate Finance
  • Renewable Energy

Geography

  • United Kingdom – The Target company is located in the United Kingdom, marking an expansion into this key market for Fusion Fuel.
  • Ireland – Fusion Fuel Green PLC is based in Dublin, Ireland, which is relevant as the acquiring entity.

Industry

  • Energy Distribution – The article involves the acquisition of a company in the fuel distribution sector, which is a part of the broader energy distribution industry.
  • Corporate Finance – The article discusses financial details of a potential acquisition, including investment structure and financial outcomes.
  • Renewable Energy – Fusion Fuel Green PLC, the acquirer, is involved in providing energy solutions including hydrogen platforms that align with renewable energy trends.

Financials

  • $50 million – Total consideration for the acquisition of the British fuel distribution company.
  • $25 million – Cash component of the deal funded through debt financing.
  • $2 million – Cash component financed through a capital raise.
  • $8 million – Value of the company's shares included in the acquisition, subject to a make-whole agreement.
  • $7.5 million – Additional cash payments due within nine and 18 months post-closing.

Participants

NameRoleTypeDescription
Fusion Fuel Green PLCBidding CompanyCompanyAn emerging leader in energy services, listed on Nasdaq, focusing on comprehensive energy solutions.
British Fuel Distribution CompanyTarget CompanyCompanyA privately held UK company involved in fuel distribution, targeted for acquisition by Fusion Fuel.
John-Paul BackwellCEO of Fusion FuelPersonChief Executive Officer of Fusion Fuel, providing strategic direction for the acquisition.