Law firm Lodders and Headpoint Advisors have advised the owners of heating oil supplier Pinnock Brothers on the company’s sale to AIM-listed fuels distributor NWF Fuels for an undisclosed sum.
Berkshire-based Pinnock Brothers is an independent family business with a history spanning over 150 years.
It is the second sale of an oil distribution business Lodders has made to NWF – the UK’s third-largest dedicated fuels and lubricants supplier – having acted for the owners of Oxfordshire fuel business Sweetfuels on its sale to NWF in 2022 alongside Headpoint Advisors. The addition of Pinnock Brothers to NWF’s business is aligned with its strategy of consolidating the fragmented fuels market and expanding geographically.
The Corporate team at Lodders acted for the Pinnock family, with a team led by partner Graham Spalding and assisted by associate Nicola Vernon.
Speaking about the deal, Graham Spalding says: “We are delighted to have completed on this sale for the Pinnock family. As always, our focus was on securing the very best price for the client and the result provides them with an excellent return, in recognition of all their years of hard work. Being fully embedded in the Thatcham community, it was important to the family that the deal preserved the 150-year legacy of the business. For NWF, the acquisition increases its market share and helps further solidify its position as one of the UK’s leading fuel distributors.”
Andrew Pinnock of Pinnock Brothers comments: “I would like to thank Headpoint and Lodders for all their help, guidance and support throughout the sale process. It has certainly been a journey and with both teams by our side, we had the courage to make it to completion.”
Mark Wilson, Headpoint Advisors’ Managing Partner says: “It is a great privilege for Headpoint Advisors to be trusted to advise on the sale of such a highly respected, fourth-generation family business and therefore we are absolutely delighted to have achieved such a great outcome for the Pinnock family.”
Lodders’ corporate team offers expert legal advice to owner managers and business owners looking to divest, grow and raise finance, and is focused on advising owner managers on acquisitions, disposals, and other corporate change, with typical deal values ranging from £3m to £30m.
If you are considering the sale of your own fuel distribution business, want to find out what your company might be worth, or simply want to discuss your options with legal experts in the fuel distribution industry, please get in touch.
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