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Development Bank powers up Blendini for growth

Investors in this round: Development Bank of Wales

Professional motorsport business Blendini has relocated to Llandow in the Vale of Glamorgan having purchased the former Harris Pye Unit. The deal that has been part-funded by a substantial seven figure loan from the Development Bank of Wales.

Established in 2010 by championship winning driver Tom Roche, Blendini Motorsport has relocated from Edwards Business Park in Llantrisant to the 135,000 sq.ft site in Llandow. With two aircraft hangers and seven industrial units, the new premises allows room for growth and reduces operational costs with space to service vehicles on site including HGV’s.

Blendini Motorsport has a professional racing team that operates and maintains over 30 race cars around the world for Car Chase Heroes, a supercar racing provider. With a team of 25, services include arrive and drive packages, coaching and performance road car servicing.

This is the second loan from the Development Bank for Blendini as the company also had support during the Covid-19 pandemic from the Covid-19 Wales Business Loan Scheme.

As Managing Director of Blendini Motorsport, Tom Roche said: “Since my early days of racing, I have always believed that success is a team effort be that on the track or in the boardroom. We’ve got a great team at Blendini and with the continued support of the Development Bank, we now have the right premises to supercharge our growth and reduce operational costs. It’s a win-win as we continue to see increased demand for our experience days and associated services.”

Richard Jenkins is a Portfolio Executive with the Development Bank. He said: “From a young age, Tom has been passionate about cars and enjoys sharing his passion with those who share his love of supercars and want to experience different vehicles. Our focus is always on building long-term relationships so having helped Tom to get the business through Covid and seen the potential for long-term growth, we were keen to continue our support for this market leading business. What’s more, our investment secures the base of Blendini in Wales as they continue to expand throughout the UK.”

The funding for Blendini Motorsport came from the £500 million Wales Flexible Investment Fund. Loans, mezzanine finance and equity investments are available for Welsh businesses from £25,000 to £10 million with terms of up to 15 years.