Fuel supplier completes MBO during lockdown
North Yorkshire-based independent fuel oil supplier, Kettlewell Fuels, has completed a management buyout (MBO) by its senior leadership team.
The deal had been in the planning stages prior to the Coronavirus lockdown.
Advisory assistance was provided by law firm Schofield Sweeney and accountants Saffery Champness, with completion taking place at a safe social distance in line with Government guidance.
Managed by Janet and Trevor Kettlewell since 1996, the MBO means the husband and wife team takes ownership of the business outright from the Kettlewell family, which also owns other family businesses.
Continuing as a Phillips 66 authorised JET distributor, it is business as usual for customers.
Janet Kettlewell retains responsibility for the operational and customer service side of the business. The same experienced local team will continue to be on hand to serve customers.
Trevor Kettlewell will carry on managing the fleet and delivery logistics, supported by the highly trained Kettlewell Fuels drivers.
The pair are joined on the board of directors by John Skinner. Skinner was previously finance director and company secretary for 15 years at one of Yorkshire’s leading estate agents, having experience also in the healthcare, packaging and banking sectors.
Although it will remain within the Melmerby area, the MBO provides an opportunity for the business to move to larger premises.
Janet Kettlewell said: “It’s another step forward in Kettlewell Fuels’ 33-year history. It is more than just a business to us.
“Taking sole control means we will be in a position to focus our energies on offering our customers a service that suits their changing needs whilst ensuring they continue to receive the outstanding level of service that has enabled us to grow the business.
“Our relationship with the other Kettlewell companies, Kettlewell Commercials and M Kettlewell (Melmerby), will continue and we’re really looking forward to exciting times ahead.”
Martin Holden, who advised on behalf of Saffery Champness, said: “Janet and Trevor have some exciting plans for the future direction of the business and this MBO provides a strong foundation for growth.
“We are delighted to have been able to offer the support they needed to achieve their ambition and look forward to watching the business flourish under their continued leadership.”
David Strachan, who led the Schofield Sweeney team, added: “My colleague Lucy Holroyd and I were also delighted to advise on this significant development for Kettlewell Fuels, and we wish the company every success in future.”
Kettlewell Fuels was founded in 1987 and is a heating and fuel oil supplier to the domestic, agricultural and commercial sectors.