DCC says its subsidiary, DCC Environmental Britain, has bought acquired Oakwood Fuels, a UK waste oil and hazardous waste collection, processing and recycling business.
DCC is paying €10.8m for the company, while another €22.5m is payable based on Oakwood's profits in the three years to March 2014.
Oakwood collects waste lubricant oil and hazardous waste from businesses in different sectors and converts the waste oil to processed fuel oil. This is then sold to customers for use in a variety of applications including road surfacing operations, industrial and agricultural drying, power stations, large boilers and furnaces.
Based in Nottinghamshire, Oakwood employs 105 people. Its adjusted operating profit for the year to September 2010 was €2.5m on revenues of €10.5m.
'The acquisition will also enable DCC Environmental's existing British businesses to offer new services to their customers and the enlarged business to leverage an expanded customer list,' commented DCC's chief executive Tommy Breen.
