Ion Equity

Harvest Energy

Ion Equity acquired Harvest Energy in December 2007, a business supplying, blending and marketing road fuels in the UK and international markets. The business trades as Harvest Energy in the UK but as Blue Ocean Group on international markets.

Harvest supplies approximately 7% of all road fuels used in the UK, through a range of large customers including major supermarket chains and transport operators. Its UK business is growing strongly, with 2009 sales volumes up 8% on the previous year, despite the market being heavily affected by recession. 

Harvest’s primary products are petrol and diesel fuels, including those with a bio-fuels component.  It has access to considerable storage capacity and enjoys product exchange agreements with some of the major oil companies in the UK.  Its UK-based storage and supply network operates from the following locations: England (West Thurrock, Essex; Immingham, Humberside; Westerleigh, Bristol; Bedworth, Coventry; Nottingham; Seal Sands, Teesside), Scotland (Grangemouth)  and South Wales (Milford Haven).  Harvest Energy also runs a fleet of modern tankers delivering 24/7 to customers' forecourts, yards and depots.

Since acquisition, Ion has had a substantial involvement in implementing changes at Harvest to move it from a trader-led, higher risk business, to a more predictable blending and marketing business. 

Ion has led the strategic expansion of Harvest in the Amsterdam market, finding a JV partner and raising development finance to commence construction of a new fuel terminal for the business. The business has also recently taken over the lease of Biofuels Corporation’s Teesside plant which significantly enhances its strength and competitiveness in the growing area of biofuels.