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Nash Business Capital announces a growth financing transaction with Ascona Group

Nash Business Capital announces a growth financing transaction with Ascona Group

Ascona Group (‘Ascona’), one of the UK’s fastest-growing fuel forecourt operators, has reached 50 sites in the UK and secured backing from Crestline Europe and Nash Business Capital to more than double its portfolio to 120 sites in 2021.
Ascona was founded in 2011 by CEO Darren Briggs, a former strategy executive for Total Oil, and embarked on its growth strategy in 2018 from its base in Pembrokeshire, Wales. Since then, the business has gone from 2 to 50 sites across the UK and now serves almost 120,000 customers a week. Ascona’s unique formula for its sites is built around a directly managed estate which enables a relentless focus on improving the customer experience. The Group tailors each forecourt for its local community and focuses on developing a ‘destination’ roadside retail outlet with a strategic partnership with NISA operating alongside a range of in-house brands.

The onset of Covid-19 has extended the life of petrol forecourts, with customers looking to minimize shopping trips by buying groceries and other services when filling up with fuel, and Ascona has seen significant growth in sales across its sites with its laundrette facilities and fish bars proving particularly popular. With the UK motoring market about to undergo structural changes, forecourts sit at the frontline of the infrastructure shift needed to make the Government’s Green vision work. Ascona is currently developing its carbon neutral strategy and is a keen supporter of the hydrogen economy.

For more information, please contact:
Alex Buchanan: abuchanan@nashcg.com

Nash Business Capital announces a growth financing transaction with Ascona Group

Ascona Group (‘Ascona’), one of the UK’s fastest-growing fuel forecourt operators, has reached 50 sites in the UK and secured backing from Crestline Europe and Nash Business Capital to more than double its portfolio to 120 sites in 2021.
Ascona was founded in 2011 by CEO Darren Briggs, a former strategy executive for Total Oil, and embarked on its growth strategy in 2018 from its base in Pembrokeshire, Wales. Since then, the business has gone from 2 to 50 sites across the UK and now serves almost 120,000 customers a week. Ascona’s unique formula for its sites is built around a directly managed estate which enables a relentless focus on improving the customer experience. The Group tailors each forecourt for its local community and focuses on developing a ‘destination’ roadside retail outlet with strategic partnerships with M&S and NISA operating alongside a range of in-house brands.

The onset of Covid-19 has extended the life of petrol forecourts, with customers looking to minimize shopping trips by buying groceries and other services when filling up with fuel, and Ascona has seen significant growth in sales across its sites with its laundrette facilities and fish bars proving particularly popular. With the UK motoring market about to undergo structural changes, forecourts sit at the frontline of the infrastructure shift needed to make the Government’s Green vision work. Ascona is currently developing its carbon neutral strategy and is a keen supporter of the hydrogen economy.

For more information, please contact:
Alex Buchanan: abuchanan@nashcg.com

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