Blazehill Capital, in collaboration with HSBC, has completed a £200 million funding package for Ascona Group to refinance existing debt and support its expansion strategy.

Information on the Target

Ascona Group, headquartered in Pembrokeshire, is recognized as the seventh largest independent forecourt operator in the United Kingdom and is among the fastest growing businesses in Wales. Founded in 2011 by CEO Darren Briggs, the company has experienced remarkable expansion since its strategic growth phase began in 2017, increasing its portfolio from two to 70 locations across England, Wales, and Scotland. Ascona serves over 400,000 customers weekly and aims to create an exceptional roadside retail experience through a proprietary transformation process termed 'Asconarisation', which enhances their sites into world-class retail destinations.

The company’s rapid growth reflects the increasing demand within the forecourt sector, highlighting its potential to seize market opportunities for further expansion. Ascona is strategically poised to leverage this momentum through new funding, which includes a notable £130 million in committed financing from Blazehill, aimed at refinancing existing senior debt and supporting future acquisitions.

Industry Overview in the Target's Specific Country

The forecourt retail industry in the UK has been witnessing significant evolution due to changing consumer preferences and increased competition. The sector has grown in response to trends favoring convenience and quick service,