Hampsthwaite-based Northern Energy has announced the sale of its oil business, Northern Energy Oil Ltd, to NWF Fuels.
The sale follows a strategic decision by Northern Energy to focus on continuing to build its growing LPG business while enabling its oil operations to benefit from being part of a larger organisation.
More than 30 people employed by Northern Energy Oil will transfer to NWF Fuels, which intends to operate from a new base in the locality.
No jobs will be lost as a result of the sale and the business will continue to trade under the Northern Energy name in the medium term.
NWF Fuels is part of NWF Group plc, a specialist distributor of liquid fuels, food and animal feeds.
It employs more than 300 people and serves over 100,000 customers from 27 depots across the UK.
Howard Illingworth, Northern Energy’s chairman said:
“We’re proud to have been serving businesses and households across the region for almost 100 years, having started by supplying milk from local farms before expanding into agricultural fuels, heating oil and, most recently, LPG.
“Selling our oil business to a larger player who is well-placed to compete in what is a changing oil market is the best way to secure its future over the long term."
He added:
"In NWF Fuels we have found a buyer who understands the business, is committed to investing in its development, and shares our passion for excellent customer service.
“They clearly see the value in a great business with fantastic people and loyal customers and we are confident Northern Energy Oil will continue to thrive under their ownership.
“We’ve been very successful in growing our LPG business over the past 10 years and the sale of Northern Energy Oil means we’ll now be investing 100 per cent of our energy, focus and resources into building it further.”
Northern Energy provides heating oil and LPG to more than 20,000 domestic and commercial customers.
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