Northern Energy has swooped for fellow North Yorkshire heating and fuel oil supplier Kettlewell Fuels.
The Harrogate-based business, celebrating its 90th anniversary, has taken on the 35-year-old family-owned firm in an undisclosed deal. Operating from Melmerby, near Ripon, Kettlewell served domestic, agricultural and commercial customers across the region.
Described as a strategic acquisition, it will support Northern’s growth ambitions as the fifth generation business looks towards its centenary. Kettlewell is a partner within Phillips 66's Jet fuel brand distribution network, with fuels produced at the Humber Refinery.
Read more: Holiday home demand and high oil prices see Rix revenues rise 42 per cent
Stuart Illingworth, Northern Energy’s managing director, said: “We are thrilled to be joining forces with Kettlewell Fuels, a business that has been built on strong family values like our own. With the existing team we will continue to deliver the same unbeatable service to which Kettlewell Fuels’ customers have become accustomed. Together, the future looks very exciting.”
A member of the UK & Ireland Fuel Distributors Association (UKIFDA), the 11-employee business has built an “enviable brand based on its excellent customer service” according to those overseeing the deal.
Janet and Trevor Kettlewell, managing shareholders of Kettlewell Fuels - who completed a management buy-out in April last year - said: “For over three decades, we have been supported by a loyal and dedicated team and we are very proud of what the business has achieved. We believe Northern Energy will sustain our legacy and we are leaving the business in great hands. We would like to thank our fantastic team, customers, and suppliers for their support over the years.”
They praised professional advisors Azets and Schofield Sweeney for their help to “navigate and negotiate the sale”.
Rob Burton, Corporate Finance Partner at Azets, was supported by Richard Weston. David Strachan, Partner and Jack Venable of Schofield Sweeney. Mr Burton, corporate finance partner at Azets, said: “This is a fantastic deal for everyone involved and it is always rewarding to see a strong family business secure its legacy having sold to an ambitious buyer like Northern Energy which is in a fantastic position to take Kettlewell Fuels from strength to strength. This deal demonstrates the vibrant business environment in Yorkshire and the importance of independent family firms, which are the backbone of the Yorkshire economy.”
Northern’s corporate finance advice was provided by a team led by James White from Brown Butler. Philip Ashworth and Nicole Waldron of Andrew Jackson Solicitors in York provided legal advice.
Read next:
£850k funding package allows Cobra Sport to put its foot down on site expansion plans
Global logistics operator reports strong growth from Hull base
£4m funding boost for East Yorkshire alternative lender to aid SMEs
All your Humber business news in one place - bookmark it now
