Garage company accelerates growth with four new acquisitions
HGS Leicester, a group of petrol stations based in the Midlands, has opened four new sites in Leicester and Peterborough after securing a six-figure funding package from HSBC UK.
Established in 1970, the family-run business is led by father and son team, Peter and Joe Hockenhull. Together, they have used the funding to purchase four new sites in Peterborough and Leicester, providing an opportunity to re-purchase a site the company originally owned. This follows HGS’s recent new opening in Wigston last summer and has doubled the business’s portfolio, creating up to 14 new jobs.
The duo saw “masses of potential” for expanding into Peterborough and also used the funding to undertake renovations to transform each site into a purpose-built petrol station, expanding the services on offer to include car valeting, which had been previously halted due to Covid-19. The funding will also enable the team to expand food and drink facilities at the sites.
Peter Hockenhull, CEO of Hockenhull Garages (HGS Leicester), said: “We’re really proud to have expanded our footprint within the Midlands. Not only are we exceeding our business growth plans of one site per year, but we have also been able to use the HSBC funding to re-purchase our first-ever site in Leicester, which has been extremely sentimental for the team.
“We pride ourselves on being a family business with a culture that promotes from within and delivers opportunities for those in nearby communities, so we’re delighted to be giving locals more opportunity. We are especially grateful to our Relationship Director at HSBC UK, Kate Beretta, who is always extremely proactive and supportive of our business growth plans.”
Debbie Harper, head of corporate banking East Midlands at HSBC UK, added: “Hockenhull Garages is a longstanding HSBC UK customer, having banked with us for over 14 years. Peter, Joe and the team are constantly adapting and innovating, and the new sites are excellent additions to local communities.”
