Millers Oils Ltd has announced the acquisition of Fuel Additive Science Technologies Ltd (FAST).
By acquiring FAST, Millers Oils – the independent blender and supplier of advanced oils, lubricants and fuel treatments – will also take ownership of the established Exocet brand, a range of fuel additives and treatments used in a wide range of sectors in which Millers already operate.
In a statement issued by Yorkshire-based Millers following the acquisition, it said that the addition of Exocet additives would help “broaden the existing range of Millers Oils products, expanding the company’s customer base” both within the UK and in some overseas markets.
Jamie Ryan, managing director at Millers Oils, said: “This modest acquisition of FAST is strategic and fits very well with Millers Oils due to the high profile of the Exocet brand within a broad range of sectors, some of which will be new to the company.
“There are two good reasons why this acquisition will be successful. Firstly, FAST has a great team of dedicated skilled employees who operate along similar high quality and technologically innovative lines, and secondly, the business is very complementary to our own.”