New Adventure Travel drives growth with HSBC support
South Wales-based coach and bus operator New Adventure Travel has secured a £1.5 million funding package from HSBC’s Cardiff and South East Wales Commercial team to help expand its fleet of coaches.
The company has purchased two 75-seater Plaxton Elite I Volvo coaches, two 63-seat OnmiExpress coaches, two 46-seater Scania OmniLink Service buses and two ADL 200 29 seat service buses. The investment takes the number of vehicles in the company’s fleet to 70 and expands overall seat capacity by between 20% and 25%.
The new vehicles will be in service in early May and come on the back of new contract wins and growing demand for its services. New Adventure Travel specialises in providing high-end vehicles for contract work, UK and European private hire and holidays. The family owned-business was founded by Managing Director Kevyn Jones in 2008 when he was just 25 years old.
It now employs 150 people and has recently moved in to brand new premises in the centre of Cardiff to accommodate its expansion. The company generated a turnover of £5 million last year and is on target to increase that to £7 million in 2013.
The finance package was arranged with HSBC’s Cardiff and South Wales Commercial team based at Bute Street, with the deal led on behalf of the bank by Senior Commercial Manager Robert Owen. The company has been an HSBC customer since March 2012 and the bank also helped fund its move to new premises.
Kevyn Jones, New Adventure Travel Managing Director, said: “These new vehicles expand our capacity significantly and enable us to take the business forward. We provide a host of services to a wide range of clients, from schools to professional football teams, and we want to ensure that we have a modern and flexible fleet to continue to service our growing customer base. This finance from HSBC allows us to upgrade our fleet; the bank has shown a true understanding of our business and I’d like to thank them for the support on this deal.”
Roger Pratt, HSBC Cardiff and South East Wales Area Commercial Director, added: “Kevyn is a young entrepreneur who has grown his business successfully in a short space of time. We have been impressed with his tenacity and drive to innovate and expand New Adventure Travel, and we are pleased to support this latest investment.”