Van firm strikes multi-million pound deal to buy its base from landlords

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A van firm that once operated out of its director’s spare room has now bought its own property in a multi-million pound deal.

Vantastec has rented its unit on Caerphilly Road, Ystrad Mynach over the last ten years, and has now bought it, alongside 30,000 sq ft of neighbouring properties, for £2.2 million.

The business, which specialises in refrigerated vans and animal transport vehicles, had previously been based in a smaller unit just up the road in Penallta Industrial Estate.

Originally founded in 2006, it operated, for a time, out of director Gareth Edwards’ spare bedroom.

In 2020, it was crowned ‘Van Converter of the Year’ at the WhatVan? Awards. 

Speaking about its recent buy, managing directors Mr Edwards and Colin Smith said: “It’s been a long time in the making, but we are thrilled to finally get this deal over the line.

“Owning our premises opens up a number of opportunities we can’t wait to explore.

“We’ve experienced significant growth since first moving in ten years ago. Purchasing the property outright ensures we have the tools to facilitate our plans to grow further.”

This move comes after the company became employee-owned earlier this year.

The new ‘Employee Ownership Trust’ was brought into action with the help of the Development Bank of Wales. It means that all 38 employees collectively own a 51% share in the business.

Mr Edwards and Mr Smith continued: “Our team has been central to our success so we were keen to ensure they have the opportunity to share in our future growth.

“Without them, we wouldn’t be where we are today.

“Being the proud owners of our premises protects us from future uncertainty and allows us the freedom to grow the business even further.”