Gwent-based Ron Skinner and Sons is marking its 50th anniversary by doubling its network of showrooms with a £5m funding package from Lloyds Bank Commercial Banking.
The family firm has announced that it will be launching eight new purpose-built car sales sites in the next two years, which will more than double its capacity and establish the company as Wales’ largest independent car sales firm.
The first two new showrooms are set to launch in Cardiff and Neyland in August, with plans to open a further five satellite locations across Wales by the end of 2020.
The firm’s headquarters, based on Tafarnaubach Industrial Estate in Tredgar, is also undergoing a major expansion, and by the end of 2018 it will have doubled its capacity.
As a result of the expansion, the firm is expected to achieve a turnover of £250 million by 2020.
Ron Skinner and Sons was founded in 1968 by Ron and Rachel Skinner. Originally a car repair shop and petrol station, the company has transformed over the past 50 years, and is now one of the leading providers of used cars in Wales.
In 2017 the firm also launched a finance brokerage company called Smile Car Finance, which, in its first 10 months of trading, has supported more than 1,000 customers across the country.
Phillip Skinner, director of Ron Skinner and Sons, said: “We thought there was no better way to mark 50 years of success than by expanding our network of sites, and when our plans are complete we’ll have the capacity to stock more than 3,000 cars.
“When my mother and father opened the business, providing an excellent level of customer service was always at the heart of everything they did.
"As the company has evolved, this has remained central to our ethos, and by expanding our network we can help even more people across Wales find a car that is right for them.
“We couldn’t have implemented our expansion plans without the support of the relationship team at Lloyds Bank.
“They took the time to understand our business and, as a result, they were able to provide a funding package that exactly suited our needs.”
Paul Williams, relationship director at Lloyds Bank Commercial Banking, said: “Ron Skinner and Sons is a vital part of the local economy in Wales, and by the time its expansion plans are complete, it will employ more than 400 people across the nation.
“Over the past 50 years the company has constantly adapted to suit changing consumer needs, and the latest phase in its expansion marks an exciting new chapter in its growth story.
“Providing tailored support is one of the many ways that we’re helping companies like Ron Skinner and Sons to achieve their growth ambitions, and helping business across Britain to prosper.”
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