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Friday, November 24, 2017

Politics | Products

Development Bank of Wales provides six-figure investment

Tom Belger | 7:27 Wednesday 8th November 2017

3A’s Leisure has become the first west Wales business to benefit from funding from the Development Bank of Wales.

The Carmarthen-based caravan and motorhome business secured a six-figure investment which will create 10 new jobs and help fund a relocation to a purpose-built showroom on a 12-acre site at Carmarthen showground.

“The funding from the new Development Bank of Wales has been effectively tailored to meet our specific needs and the investment will now enable us to relocate the Carmarthen site at Stephens Way to new purpose-built showrooms on a 12-acre site at the Carmarthen showground in autumn 2018,” said Lynn Evans, director at 3A’s Leisure.

“It’s an exciting time for us as we look to capitalise on the growing demand for leisure vehicles thanks to their increasing popularity and affordability.”

Richard Easton, investment executive for the Development Bank of Wales (pictured above, second from right), said the Evans family had built an incredibly successful and well-respected business and it was able to offer a sustainable and effective support package to enable the business to take advantage of increased capacity and new facilities.

“Our investment fits perfectly with our remit to stimulate growth; further consolidating the position of 3A’s Leisure as a leading specialist in a £6bn market and acting as a welcome boost for the local economy.

“We are very proud to be facilitating this important success story for Carmarthenshire.”

Financing for the deal came from the Wales Business Fund, part-funded by the European Regional Development Fund via the Welsh government.

The bank provides loan and equity investments up to £5m per round with loan terms ranging from one to 10 years.

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