4/12/2020 | Retail Mortgages

Established forecourt operators continue to expand their portfolio in the South East

Specialist commercial finance broker, Christie Finance, supported experienced petrol filling station operators, Mr and Mrs Saravanapavananthasivam of the LSA Group, to purchase their sixth petrol forecourt, Gulf/Bargain Booze in St Lawrence, Kent.

The Gulf/Bargain Booze site is located on a prominent roadside position in St Lawrence, one mile north west of Ramsgate town centre, comprising a single storey detached property and forecourt built in c.2000. Our clients will utilise their extensive experience to re-position and rebrand the site, as well as seeking to implement new features such as electric vehicle charging points.

Prathepan is currently the commercial director for their forecourt business, LSA Oil Limited, with key responsibilities including relationship management, contract negotiations and procurement. With the acquisition of the St Lawrence site, the business will now consist of six forecourts and retail shops operating across the South East of England.

Leka, the other half of the Saravanapavananthasivam duo, is currently the financial controller in the business and is responsible for all accounting related matters. Both Prathepan and Leka were the ideal candidates to acquire an additional site as a 'bolt on' to their existing successful platform.

Prathepan and Leka comment on their recent purchase “Healthy and timely funding to invest is absolutely necessary in our business, which is one of the fastest-growing businesses in the fuel retailing and convenience store industry. We, as a small business with great visions and ambitions, approached Christie Finance to assist our recent acquisition of a fuel and convenience store retail business in Kent.

Stuart did a fantastic job for us in securing a competitive funding facility in a timely manner. We have known Stuart for the past few years as he had previously worked with us on one of our earlier acquisitions. He was dedicated, professional and focused to meet our expectations. He understood our business model and the potential of our companies, transforming and presenting them to the lenders in the right way to present to us the most suitable and competitive funding facilities that the market had to offer. Having access to several reputable lenders, Christie Finance is in a fabulous position to explore all the options available for the needs of a business. We really appreciate the amount of effort Stuart put into this project and leveraging his capacity and financial knowledge to negotiate the right package for us. We were continually kept updated with progress throughout the entire project. We would like to take this opportunity to thank Stuart and Christie Finance for all their support and the service provided.”

Stuart Pawelczyk, Director at Christie Finance comments “ It was a pleasure working with Prathepan and Leka again, they are highly proficient forecourt and retail operators who will add an incredible amount of value to the business in St Lawrence, exploring ways in which they can optimise revenues and continue to build on the success of the previous owners. I wish them the very best for the future and I hope to work with them again on any potential acquisitions.”

For further information on this completion, contact: 
Stuart Pawelczyk, Director at Christie Finance 
P: 0121 452 3701 or E: Stuart.Pawelczyk@christiefinance.com