The team at Clay Shaw Butler have been able to play a key role in helping Oil4Wales clinch a new investment deal.
The deal will see a popular and high-profile filling station on the busy A48 near Carmarthen get a new lease of life.
It will be transformed into a tourist shop and café following a £350,000 loan from the Development Bank of Wales.
Oil4Wales is Wales’s only independent oil company with national coverage.
It plans to build the new café at Nantycaws filling station. They will sell locally-sourced Welsh produce on a site which enjoys spectacular views of the Tywi Valley, Brechfa Forest and the Black Mountain range.
The garage is on the eastbound carriageway of the main route from West Wales to Cardiff, Newport and beyond.
The experienced team at Clay Shaw Butler were able to support the company throughout the investment deal.
Mark Jones, Director at Clay Shaw Butler said: “We were delighted to carry out the work on behalf of our clients at Oil 4 Wales to bring this deal with the Development Bank of Wales to fruition.
“It’s a wonderful experience to work alongside ambitious clients on their expansion plans and their visions for the future. We pride ourselves on having long-term relationships with our clients and their businesses. One key aspect of the foundations of our business is working on gaining a full long-term knowledge of businesses. That way, we can help clients achieve their long-term strategic goals.
“It’s great that we have been able to help Oil 4 Wales in their ambitions to deliver a key project in West Wales and we wish them all the best for future business success.”
Oil4Wales founder and managing director Colin Owens believes the Nantycaws site has great potential.
“The garage has had no investment in it in for over 20 years. The location with the view over the Black Mountain range cries out for investment to attract more tourists and locals, if we can provide the services, such as a cafeteria and a tourist shop, all stocked with Welsh produce,” said Mr Owens.
“There’s an opportunity, we believe, for Welsh produce to be marketed well and to be an attraction to tourists. We have some of the best countryside and beaches in Europe, and we’ve got great publicity now with events in Cardiff and everything else that’s going on. We are becoming a great tourist location.”
The loan from the Development Bank of Wales will pay for the refurbishment of the former Texaco filling station as well as the conversion and enlargement of the present shop into a new tourist shop and café.
Set up nine years ago, the ethos of Oil4Wales founder Mr Owens was to build a company that sees itself, and is seen, as part of the community.
Solidifying their commitment to the community, Oil4Wales proudly sponsors the Scarlets and Ospreys rugby teams and players regularly act as brand ambassadors for the company at community events and shows.
“The whole strategy at our conception was to become a Welsh community company, the only oil company that’s Welsh that covers the whole of Wales.
“We have a policy that we will only use Welsh suppliers. Obviously, our oil comes from outside Wales, but we will not use any company from outside of Wales if there’s a Welsh company that can supply the service and is commercially competitive.”
The company now has seven depots around Wales and owns four filling stations.
Its 42 tankers deliver oil to farms, businesses and domestic customers around the country.
It sells or delivers around 140 million litres of oil to 70,000 customers.
Commercial customers – hauliers and civil engineering companies – represent more than 50% of the business, with retail sales through garages making up 5% and the rest evenly split between agricultural and domestic consumers.
True to his ethos of a community company, Mr Owens is interested in sustainable growth rather than rapid growth and a quick sale.
The next few years will be ones of consolidation, although Oil4Wales will remain open to new investment opportunities as they appear.
Mr Owens said he was grateful to the Development Bank of Wales for supporting the investment.
“I was so impressed with the Development Bank Investment Executive, he was so easy to communicate with, he understood what we were trying to achieve with the garage and the location,” he said.
The Investment Executive from Development Bank of Wales, Richard Easton said: “The Development Bank of Wales are delighted to support Oil4Wales with their proposed plans to refurbish and extend Nantycaws Filling Station.
“Oil4Wales is a fantastic business and we share the same passion for Wales and support of Welsh businesses and communities.
“It has been a pleasure working with Colin, Sally and the team at Oil4Wales and we look forward to working closely with them in the future.
“I would also like to thank Clay Shaw Butler Accountants for their excellent support.”
Photo 1: Oil4Wales brand ambassadors and Welsh rugby players with Nigel Roberts, Clay Shaw Butler, Mark Jones, Clay Shaw Butler, Richard Easton, Development Bank of Wales, Colin Owens, Oil4Wales, Sally Owens, Oil4Wales.
Photo 2: Richard Easton, Development Bank for Wales Investment Executive, Colin Owens, Managing Director Oil4Wales, Sally Owens, Director Oil4Wales.
About Clay Shaw Butler:
Clay Shaw Butler is a unique, innovative firm of accountants that aims to deliver the highest possible standard of expertise through a team of Qualified Chartered Accountants, Chartered Certified Accountants, Chartered Tax Advisers, experienced senior staff, trainee accountants and business consultants.
Established in Carmarthen more than 30 years ago, the firm’s portfolio of clients has increased significantly with clients based locally, across the UK and overseas.
The team is made up of 24 professional staff (including three administrative staff members). They have a combined experience of more than 210 years and include Welsh speakers at all levels. The firm holds the Investors in People Award.
Weblink – http://www.clayshawbutler.com
The team at Clay Shaw Butler can be contacted on 01267 228500.
The firm is on Twitter. Look for @clayshawbutler.
Development Bank of Wales:
The Development Bank of Wales was set up by the Welsh Government to support the economy of Wales by making it easier for businesses to get the finance needed to start up, strengthen and grow. The purpose of the Development Bank is to unlock potential in the economy of Wales by increasing the provision of sustainable, effective finance in the market.
Launched in October 2017 it will become a cornerstone organisation for delivery of public sector financial products, supporting micro to medium businesses in Wales and increasing the supply of finance. It will promote economic development through an adaptable delivery model that is responsive to market needs whilst providing continued value for money for public funds. It will deliver key Welsh Government policy objectives measured through performance targets and providing investment management and support services across the whole of Welsh Government.
Formerly known as Finance Wales, it has supported Welsh businesses with investment funds since 2001. It has directly invested £0.5 billion into Welsh businesses and attracted £0.7 billion of private sector investment. Together this has boosted the Welsh economy by over £1.2 billion. These are the figures for the end of the financial year, 31st March 2018. Now as the Development Bank of Wales it has over £1 billion of funds under management which includes administration of the Help to Buy – Wales shared equity scheme.
Development Bank of Wales Plc (Banc Datblygu Cymru ccc) is the holding company of a Group that trades as Development Bank of Wales. The Group is made up of a number of subsidiaries which are registered with names including the initials DBW. Development Bank of Wales Plc is a development finance company wholly owned by the Welsh Ministers and it is neither authorised nor regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). The Development Bank of Wales has three subsidiaries which are authorised and regulated by the FCA. Please note that neither the Development Bank of Wales Plc nor any of its subsidiaries are banking institutions or operate as such. This means that none of the group entities are able to accept deposits from the public.
A complete legal structure chart for Development Bank of Wales Plc can be found at www.developmentbank.wales.
Oil4Wales is a family-run business, run by Colin Owens, supported by his wife Shirley, daughter Sally, son Paul.
Oil4Wales is aiming to become the brand of Wales and is on course to turnover £40-50m in its first year through the provision of all petroleum products to domestic, commercial and agricultural customers throughout Wales.
As well as supplying homes, businesses and agricultural premises, Oil 4 Wales services include interest free budget accounts, planned deliveries, fuel cards and Harlequin oil tanks.