Aberdare MOT, service and repair workshop Motomec Aberdare Ltd has bought its trading premises with support from the Development Bank of Wales.
The company used a six-figure loan from the Wales Flexible Investment Fund to buy the property from former owner Eddie Hawkins, who established the business in 1987. The Development Bank said the purchase has retained jobs and gives the company greater control and a platform for further growth.
It follows a management buyout in 2022, also supported by the Development Bank, in which directors Alex Sage and Carl Adams took ownership of the business from Mr Hawkins. Both began their careers at Motomec as apprentices.
Since then, the pair have increased turnover and profitability and built reserves to support future growth, according to the Development Bank.
Motomec serves customers across the Cynon Valley and beyond, and provides contracted vehicle maintenance services for organisations including Tesco, BT, Co-op Funeralcare and the RAC.
Alex Sage, director of Motomec Aberdare Ltd, said: “Buying the premises is a major milestone for us and gives us real confidence in the future of the business. Without the support we received from the Development Bank of Wales, this simply would not have been possible.”
“When Eddie was looking to retire, there was a real risk that the business could have disappeared altogether. Instead, we have been able to protect the business, continue supporting local jobs and build on everything achieved over the previous five decades.”
Jill Allen, Portfolio Executive with the Development Bank of Wales, said: “Alex and Carl have built on the strong foundations established by Eddie Hawkins and shown a clear commitment to their customers, workforce and local community. Since acquiring the business in 2022, they have delivered continued growth and maintained a strong financial position.”
“Purchasing the premises now gives them greater stability, secures an important local asset and provides a solid platform for future expansion. We’re pleased to have supported Alex and Carl again as they continue to invest in the long-term success of Motomec.”
The £500 million Wales Flexible Investment Fund is financed by the Welsh Government and supports Welsh businesses with terms of up to 15 years. Loans, mezzanine finance and equity investments are available from £25,000 to £10 million.
