A Valleys service station group has expanded its portfolio with the acquisition of two new sites.
Efail-Isaf based VST Groups, supported with a seven-figure facility from HSBC, has acquired Towy service station, near Carmarthen, and Pensarnau services, near Newcastle Emlyn.
The properties were previously owned by Kiran and Surendra Patel who recently retired after running the sites for 14 years.
Since acquiring its first site with the Efail Isaf Stores in 2016, VST Groups has now grown its portfolio to seven, five of which were funded with the support of HSBC. It has plans to grow its number of sites across Wales to more than 15.
The latest two acquired sites are being redeveloped with additional facilities including electric vehicle charging points and a Costa Coffee franchise.
In addition to retaining all existing staff, plans are in place to recruit a further 10.
Vijay Jaganathan, managing director of VST Groups, said: “After a remarkable 14 years, the Patels are very deserving of their retirement. I am looking forward to carrying on where they left off bringing a number of new facilities to build on the tremendous potential of the two sites as well as introducing new team members.
“I have banked with HSBC UK since the very beginning and that’s largely down to the great support and advice we have received from our relationship manager Donagh Kenny.”
Phil Sargeant, area director, Wales at HSBC UK, said: “We have partnered with VST Groups for many years, and we’re proud to have seen the business grow over the years. This deal will breathe new life into existing sites and is vital in safeguarding and creating jobs locally.”
