Ascona secures £92M refinancing deal to support expansion
Ascona Group is the seventh largest UK independent forecourt operator with 60 sites.
Independent forecourt operator Ascona Group has secured a £92 million refinancing package from HSBC UK and Barclays. The funding replaces a previous arrangement with Crestline Europe and is aimed at supporting the company’s continued expansion across the UK.
Founded in 2011 and based in Pembrokeshire, Ascona has grown from two to 60 sites nationwide, serving over 300,000 customers and supplying 4.5 million liters of fuel weekly. The company, which employs more than 820 people, reported revenues of £284.3 million and a profit after tax of £4.2 million in its last financial year.
Ascona CEO Darren Briggs described the deal as a "pivotal moment" in the company’s growth strategy, while HSBC UK and Barclays emphasized their commitment to supporting its expansion.
