A family-run Lake District petrol station operator has been sold to a national company for an undisclosed sum.
Auk Investments, which ran six forecourts in South Lakeland, has been sold to Motor Fuel Group.
The deal between Auk owners – brothers Angus, Marcus and Simon Hockings – and Motor Fuel Group – was put on hold due to the coronavirus pandemic but was revived in October under the same terms.
Auk Investments operated three BP branded and three Shell branded stations.
Simon, managing director of Auk Investments, said: “My brothers and I have operated our filling station business in the Lake District for many years after dad bought his first site in 1970s.
“I think we have done him proud but times are changing quickly in the industry and we felt it was the right time to move on.
“We are pleased to be handing the sites over to Motor Fuel Group, their stewardship will bring further investment including addressing the growth of electric vehicles. We wish them all the very best.”
William Bannister, chief executive of Motor Fuel Group, said: “Auk is a well-respected family business in the Lake District.
“The six stations that we have purchased from them give us the opportunity to extend our network coverage into Cumbria in what is normally, a thriving tourist area.”
Simon is also director of bicycle retail and hire company Biketreks which operates two sites in Cumbria.
The company’s Ings site is based at one of Auk Investments’ petrol station sites and the company will continue to operate at the site.
MHA Moore and Smalley’s acquisition team was led by partner Paul Williams who worked with corporate finance director Stephen Gregson and tax partner Tony Medcalf.
Jack Stephenson, of Harrison Drury, provided legal advice to Auk Investments.
