PwC New Zealand facilitates the successful transfer of ownership of NPD
22 May 2024
PwC New Zealand is pleased to announce the successful transfer of ownership between shareholders of fuel distributor NPD (www.npd.co.nz). This will ensure that NPD continues to be New Zealand-owned and operated. The transition of ownership to the Nelson-based management team, marks a significant milestone for the company.
Founded by the Milne Family in 1969, NPD has grown to become a leading fuel distributor and retailer throughout New Zealand, operating a nationwide network of over 100 sites. NPD is a 100% New Zealand-owned family business and takes pride in its ability to operate with lower overheads, allowing it to pass on fuel savings to motorists.
The transaction will see the transition in ownership from founding family members Barry Milne and Pauline Field to CEO and shareholder Barry Sheridan. This ensures continuity and stability for NPD, as Barry Sheridan has been an integral part of the management team for many years.
The PwC New Zealand Deal team, led by Partners Craig Armitage, Carl Blanchard and Director Chris Ross, played a pivotal role in coordinating and facilitating the ownership transfer. With their expertise and guidance, there was a smooth transition, preserving NPD's identity, culture, and family values that the company has been built on.
"We are delighted to have been part of this significant milestone for NPD," said Craig Armitage. "This is a meaningful milestone for the Milne, Field and Sheridan families and we are thrilled to have supported them through a complex transition process. Importantly, the transaction will see NPD continue to be family-owned and operate with the values it was built on."
The financing for the transaction was led by PwC New Zealand's Debt Advisory team, comprising Partner Alex Wondergem and Director Rob Ford. Their expertise in securing the necessary funding ensured successful wealth creation for the outgoing shareholders.
"NPD's success story is a testament to the dedication and vision of the management team," said Alex Wondergem. "We are thrilled to have played a role in this transaction, which will enable NPD to continue thriving as a New Zealand-owned and operated business."
With this ownership transfer, NPD is well-positioned to continue its growth trajectory while maintaining its commitment to providing affordable fuel options and supporting the local economy.
Contact us
Managing Partner, Te Waipounamu and China Business Group Lead, Canterbury, PwC New Zealand
+64 21 616 232
