Forest Fuels supplies premium-grade wood chip and pellet nationally from a network of 15 local depots, supported by a central office and customer service team. Forest Fuels, which also undertakes consultancy and advisory work, anticipates further growth within the wood fuel sector in the UK.
The company provides local fuel to local boilers, which reduces the haulage costs and carbon emissions while stimulating local economies and employment.
"We are delighted to announce this acquisition in Forest Fuels. The UK heat supply market has great potential; the use of biomass for heat and power generation offers significant potential to provide renewable energy to commercial and industrial-end users. This acquisition strengthens our already attractive existing position and further signals our commitment to the biomass sector," said Goran Nylin, Chairman, GN Energy Solutions.
GN Energy Solutions incorporates Forest Fuels as a wholly owned subsidiary, and is in the process of also acquiring GG Eco Solutions, a leading UK-based renewable energy supplier to the educational, industrial and commercial sectors. Both businesses will continue to focus on ambitious growth within their own market sectors.
"We are very excited about the prospect of working more closely with Forest Fuels. We look forward to exploring and building on our synergies, and growing our existing relationship," said Greg Hilton, Managing Director of GG Eco Solutions.
Commenting on the acquisition, Peter Solly, Managing Director of Forest Fuels, said: "We are delighted with the transaction, which positions the group firmly at the forefront of the wood fuel sector in the UK. Forest Fuels has witnessed significant growth over the last few years; so this acquisition serves as both a logical and evolutionary step for us."
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