ThinCats delivers £7m growth funding for Welsh service station operator Ascona Group

ThinCats Fuels Ascona Group’s Rapid Growth – Fueling the Future of Welsh Service Stations

The Fast‑Track Deal

ThinCats swooped in with a £7 million growth loan, propelling the Ascona Group from a modest seven sites to a bustling 16 by year‑end. Their revenue jumped from a humble £7 million to a roaring £85 million in just 12 months.

Why the Traditional Banks Said “No”

When Ascona first approached the big banks, they were met with a classic “too ambitious” dismissal. Even with a decade of fuel sector know‑how and a stellar reputation, the old‑school lenders stuck to their rigid scoring files. Noticing this, Ascona pivoted to the bold, flexible, and ever‑ready ThinCats.

Building the Roadmap to 40 Stations

Thanks to ThinCats’ bespoke, credit‑backed package, the expansion plan is now a crystal‑clear step‑by‑step strategy:

Acquire 40 stations (mix of leasehold and freehold) nationwide by year’s end.
Target £150 million annual revenue – a staggering 3000 % increase over two years.
Leverage local suppliers and talent to strengthen the Welsh economy.

Key Players Behind the Deal

ThinCats teamed up with regional powerhouses:

Broomfield Alexander Accountants (Cardiff)
Morgan LaRoche Solicitors (Swansea)
Price & Paykel Solicitors (Milford Haven)

What the Folks Have to Say

Darren Briggs, Managing Director, Ascona Group: “ThinCats didn’t just hand us a loan; they handed us a partnership. They rolled up their sleeves, dug into the numbers, and matched our ambitions with a tailored credit solution. By this time of year, our sales should be three‑thousand percent bigger. I’m thrilled to keep climbing with them.”

Alison Whistance, Director of Business Development, South West & Wales, ThinCats: “We’re proud to have powered Ascona’s rapid ascent. ThinCats is pioneering a new era in business lending – filling the gaps left by mainstream banks and supporting the true backbone of the UK’s economy.”

Next Steps

ThinCats and Ascona are already eyeing the next tranche of funding – the next set of acquisitions could make this Welsh trailblazer even more unstoppable.