Paragon Bank has agreed a £545,000 asset finance facility with Tim Vaughan Racing to fund the installation of three biomass boilers at its Pant Wilkin Stables base in Cowbridge, South Wales.
The funding, arranged through Premier Asset Finance, will support a major upgrade in heating capacity across the site, helping the business meet the energy demands of new facilities while cutting long-term costs and emissions.
The new boilers will heat a recently completed equine hospital and a planned equine rehabilitation centre, both of which require significant and consistent energy supply. The investment is designed to improve energy resilience as the business expands, while supporting its wider sustainability objectives.
WINNING TEAM
Founded in 2008, Tim Vaughan Racing is one of the UK’s best-known National Hunt training operations, recording more than 867 winners including victories at Aintree, Punchestown and the Scottish Grand National.
The business offers a range of ownership models and provides on-site facilities including gallops, schooling grounds and accommodation for owners.
Paragon’s SME Lending division supports more than 16,000 small businesses across the UK, providing finance across sectors such as agriculture, manufacturing, construction and transport. The deal underlines the lender’s focus on backing SMEs investing in renewable technologies as they adapt to rising costs and net-zero targets.
STRONG BUSINESS ACUMEN
Peter Pike (main picture, left), Business Development Director at Paragon SME Lending, says: “Tim Vaughan Racing exemplifies the kind of ambition we value at Paragon. By investing in renewable energy and expanding operations, the business is helping to secure its long-term sustainability.
“Tim’s decision to diversify following the challenges of COVID – with the building of an equine hospital, rehab centre and the addition of six on-site holiday lodges – is a testament to strong business acumen and the importance of adapting in a changing environment.
“Tim Vaughan’s commitment to innovation and sustainability demonstrates how finance can play a pivotal role in driving greener, more efficient operations. Paragon remains dedicated to helping SMEs navigate today’s economic climate and achieve their sustainability goals.”
REDUCED ENERGY COSTS
Tim Vaughan (main picture, middle), owner of Tim Vaughan Racing Ltd, adds: “This investment from Paragon will enable us to be more financially resilient – reducing our energy costs so we can reinvest the funds elsewhere to grow the business and protect our beautiful environment here in Wales.
“The new biomass boilers are essential as our business grows, particularly with the opening of the new equine hospital and upcoming rehabilitation centre. We’re grateful to Paragon and Premier for their support and expertise, making the process smooth and seamless.”
And Steven Toshack (main picture, right), Asset Finance Manager at Premier Asset Finance, says: “It’s been a privilege to support Tim Vaughan and his team over the years as they’ve grown and diversified the business.
“Our longstanding partnership is built on shared values and a commitment to sustainable growth, and I’m delighted that Premier Asset Finance continues to play a part in enabling their ongoing success.”
