Carnegie Fuels acquired by Highland Fuels

A family-run fuel supplier, which was established nearly 70 years ago, has been sold to Scotland’s largest independent fuel distributor in a transaction advised on by KBS Corporate.

Brechin-based Carnegie Fuels, founded in 1957, transports gas oil, road diesel and kerosene, while also providing general haulage services.

The company has been sold to Inverness-based Highland Fuels, an employee-owned organisation which was selected as the preferred partner due to its strong cultural alignment, shared ethos and long-standing reputation for excellent service and community focus.

Carnegie Fuels will continue to operate under its current name and management structure. Ryan Carnegie has been appointed as a Director, with Kevin Carnegie (Managing Director) and Rosie Carnegie supporting a smooth transition.

“We’ve spent many long hours over the years building Carnegie Fuels’ excellent reputation of providing a first-class, reliable service from a company our customers know they can trust,” said Kevin Carnegie.

“When faced with the difficult decision of what best to do to secure the long-term future of Carnegie Fuels, it was extremely important to me that we continued to provide the same, if not better, service that we’ve always strived for.

“I’m confident that Highland Fuels has a similar ethos to ours and with Ryan remaining at the helm of Carnegie Fuels, it will very much be business as usual, hopefully enhanced, with both employees and customers benefiting from the combined strength of both brands.”

Carnegie Fuels believes its workforce of more than 20 will benefit from the security and potential rewards offered by joining Highland Fuels’ Employee Trust, allowing them the opportunity to directly contribute to the ongoing success of the expanded business.

Stephen Rhodes, Managing Director of Highland Fuels, commented: “This is a very positive step for both businesses and for the communities we serve. We are honoured to be continuing the Carnegie legacy and welcoming the team into the Highland Fuels family. The partnership is built on shared values and a commitment to long-term success.”

Highland Fuels, which has 260 staff and operates 11 depots and 16 forecourts across Scotland and northern England, transitioned to employee ownership in August 2023.

Tom Eatough, KBS Corporate Director, advised on the transaction.