MPK Garages, a Leicester, UK-based independent operator of forecourts, received £14m in funding.
Backers included:
– Business Growth Fund, which invested £7m;
– HSBC, which provided £7m in debt funding.
The company intends to use the funds to acquire additional forecourts and refresh parts of its existing estate.
Founded in 1979 by Shanti Majithia and his family and managed by Managing Director Paul Kershaw, MPK Garages currently operates 25 sites across the UK, the majority of which are freehold and located on trunk or major roads.
The business is targeting both freehold and leasehold properties and plans to add up to 20 more sites over the next two years.
The existing estate operates under two brands, Texaco and Gulf, while its Londis branded retail offering features Costa Coffee and Subway facilities.
The company currently has 120 employees.
FinSMEs
09/05/2016