Tim Vaughan Racing secures £545,000 finance deal with Paragon Bank

Daniel Bevan - Editor

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Tim Vaughan Racing Ltd has secured a £545,000 asset finance facility from Paragon Bank to fund the installation of three biomass boilers at its Pant Wilkin Stables base in Cowbridge, South Wales.

The funding, provided by Paragon Bank’s SME Lending division and arranged through Premier Asset Finance, will support increased heating capacity across the site as the business continues to expand and invest in sustainable infrastructure.

The biomass boilers will provide heating for a recently completed equine hospital and a planned equine rehabilitation centre.

The investment is expected to reduce future energy costs and support the business’s environmental objectives.

Established in 2008, Tim Vaughan Racing has recorded more than 867 winners, including victories at Aintree, Punchestown and the Scottish Grand National.

Paragon Bank works with more than 16,000 small businesses across the UK, providing finance across sectors including agriculture, manufacturing, construction and transport.

Peter Pike, Business Development Director at Paragon SME Lending, said: “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.”

Tim Vaughan, the business’ owner, said: “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.”

Steven Toshack, Asset Finance Manager at Premier Asset Finance, said: “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.”