Rudrum, the long-standing Bristol-based fuel group, has sold its retail solid fuel distribution division in a move that will allow it to concentrate on its industrial coal, biomass and property businesses.
The Shirehampton-based group, at one time Bristol’s best-known coal merchant and the core of an international fuel importer, sold the division to Sheffield-based CPL Distribution for an undisclosed sum. The Bristol office of national law firm Bond Dickinson advised Rudrum on the sale. 
The division includes four companies – Corralls Coal, C Rudrum & Sons, C Rudrum & Sons (Cornwall) and Castletown Fuels – which supply solid fuel for domestic heating from depots based mainly on the South Coast and Isle of Man. The sale leaves Rudrum Holdings with six active subsidiaries spanning biomass fuels, industrial coal import, export and distribution and property development.
Rudrum has been a family business since it was established after World War Two by Clifford Rudrum, a merchant seaman from Norwich who, having docked in Bristol, met and married a local girl. Working for a local dairy, he toured the city’s new housing estates signing up customers – but after hearing complaints about the poor supply of coal decided to start his own round.
By the mid-1960s he had built a large and successful business, opening one of the UK’s most modern mechanised coal depots at Filton in 1965 and two years later acquiring the then publicly quoted E.H. Bennett & Co – a move which led to the formation of an international fuel group that went on to import industrial coal from Germany and South Africa through Avonmouth. The group also bought a 50% stake in an oil distribution business and – reflecting Mr Rudrum’s entrepreneurial flair – imported colour TVs from Finland. 
Clifford Rudrum died in 1985 aged 59, by which time his sons Trevor, Tony and John were working in the business.
The Bond Dickinson team advising Rudrum was led by corporate partner Tom Fitzpatrick and included Paul Bramall on property aspects, which were significant given the number of depots.
West of England accountants Bishop Fleming provided tax advice to Rudrum while law firm DLA Piper’s Sheffield office advised CPL.
Tom Fitzpatrick said: “We are delighted to have helped a great local business such as Rudrum to realise value for one of its core businesses. Bond Dickinson remains committed to increasing our share of the merger and acquisition market in the South West, in addition to the work we do out of the region.”
CPL Distribution is part of CPL Industries Group, which has annual sales of nearly £130m and employs about 450 people. Last month it secured a £65m funding package to support future growth.
CPL chief executive Tim Minett said: “The acquisition of these high-quality businesses clearly enhances CPL Distribution as our current depot network is currently not well represented on the South coast and the Isle of Man.”
