Tim Vaughan Racing secures £545k Paragon Bank asset finance deal

Racehorse training operation Tim Vaughan Racing Ltd has secured a £545,000 asset finance facility from Paragon Bank to fund the installation of three biomass boilers at its Pant Wilkin Stables base in Cowbridge, strengthening the business’s energy resilience and sustainability credentials.

The funding, arranged through Premier Asset Finance, will significantly increase heating capacity at the site, supporting the continued expansion of Tim Vaughan Racing’s operations. The new biomass boilers will supply heating to the recently completed equine hospital and the soon-to-be-constructed equine rehabilitation centre, both of which have substantial energy requirements.

The investment is expected to reduce long-term energy costs and help future-proof the business against volatile energy prices, while supporting its environmental objectives by transitioning to renewable energy technology.

Established in 2008, Tim Vaughan Racing has trained more than 867 winners, including high-profile victories at Aintree, Punchestown and the Scottish Grand National. The business offers a range of ownership options and provides a personalised experience for owners, with access to gallops, schooling grounds and on-site lodges at its Cowbridge base.

Tim Vaughan, a former Champion Welsh point-to-point jockey, rode 117 winners between the flags before moving into training, becoming the youngest National Hunt trainer to record 100 winners in a single season. In recent years, the business has diversified its operations, investing in new facilities including an equine hospital, a rehabilitation centre and six on-site holiday lodges.

Paragon Bank, a FTSE 250-listed lender, said the deal reflects its ongoing commitment to supporting SMEs as they invest in sustainable technologies and work towards net zero.

Peter Pike, Business Development Director at Paragon SME Lending, said: “Tim Vaughan Racing exemplifies the kind of ambition we value at Paragon. By investing in renewable energy and expanding operations, the business is helping to secure its long-term sustainability. Tim’s decision to diversify following the challenges of Covid – with the building of an equine hospital, rehab centre and the addition of six on-site holiday lodges – is a testament to strong business acumen and the importance of adapting in a changing environment.

“Tim Vaughan’s commitment to innovation and sustainability demonstrates how finance can play a pivotal role in driving greener, more efficient operations. Paragon remains dedicated to helping SMEs navigate today’s economic climate and achieve their sustainability goals.”

Tim Vaughan, owner of Tim Vaughan Racing Ltd, said the investment would strengthen the business’s financial and environmental resilience. “This investment from Paragon will enable us to be more financially resilient – reducing our energy costs so we can reinvest the funds elsewhere to grow the business and protect our beautiful environment here in Wales,” he said. “The new biomass boilers are essential as our business grows, particularly with the opening of the new equine hospital and upcoming rehabilitation centre. We’re grateful to Paragon and Premier for their support and expertise, making the process smooth and seamless.”

Steven Toshack, Asset Finance Manager at Premier Asset Finance, which facilitated the deal, added: “It’s been a privilege to support Tim Vaughan and his team over the years as they’ve grown and diversified the business. Our longstanding partnership is built on shared values and a commitment to sustainable growth, and I’m delighted that Premier Asset Finance continues to play a part in enabling their ongoing success.”