“The Vianet business already has existing customers in the UK, has a knowledgeable team, and has competitive and comprehensive fuel management services which complements our product and services offerings,” added Neil.
The UK-based Vianet Fuel Solutions (VFS) includes two main product lines as part of the Wayne acquisition: Fuel Management Services (FMS) and Construction Forecourt Services (CFS).
FMS is comprised of real-time wet stock management, asset management and compliance monitoring services. CFS aligns with Wayne’s current UK services business, although provides additional provisions including construction and electrical compliance services and tank lining.
“Over the past two years, Vianet has made significant commercial progress and has established a strong reputation in the UK forecourt sector. This transaction recognises the value which has been created,” noted James Dickson, chairman of Vianet Group plc.
“Whilst it will be sad to say farewell to the VFS team, I’m pleased that there’s a great fit with Wayne who will take VFS to the next stage of development and growth. This is a competitive landscape increasingly dominated by major global players such as Wayne.”
The closure of the acquisition is anticipated to occur in first quarter of 2016.
Wayne is a global provider of fuel dispensing, payment, automation, and control technologies for retail and commercial fuel stations. Vianet provides real-time monitoring systems and data management services for the leisure, vending, and forecourt services sectors.