FILLING station operator Intake Developments has bought two petrol stations with the help of a £600,000 loan and additional overdraft facilities from Santander Corporate Banking.
The deal brings the number of stations owned by the Barnsley-based family firm to nine
Intake Developments was set up 40 years ago and is jointly owned by John and Anne Campbell and their three children, Robert, Richard and Fiona.
The company has a history of buying failing petrol stations and turning them into successful businesses.
Intake’s existing sites have undergone some improvements including extending opening hours to take advantage of alcohol licences and the plan is for the two new sites to follow suit once licences have been obtained.
The £600,000 loan provided by Santander and funding from Intake is being used to buy the two new sites, while an additional overdraft provision of £250,000 will help with working capital.
John Campbell said: “I’m proud of what my family has achieved with Intake over the last 40 years.
“Our business model of buying failing petrol stations and turning them into profitable businesses has been extremely successful and I have every confidence that my children will be able to achieve even more growth in the future.
“We are grateful to Santander for helping us achieve our goals and, as always, are impressed with the knowledge and experience of Andy Stobbart and the rest of the team in Sheffield.”
Andy Stobbart, relationship director for Santander Corporate Banking, said: “We have worked with the Campbell family for many years and have been thoroughly impressed with their hard work and business drive.
“We expect the business will grow continually stronger and look forward to supporting the family as this happens.”