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European Travel Group to purchase new head office with Santander funding
Durham-based European Travel Group is set to purchase a new head office to incorporate its several trading companies and store the group’s coaches, after receiving nearly £900,000 from Santander Corporate & Commercial.
European Travel Group has been operating for five years and consists of Lee’s Coaches Limited, Durham City Coaches Limited and Enterprise Travel Limited, employing in excess of 80 staff.
To complement its existing fleet the European Travel Group have invested in excess of £2.5 million in new vehicles over the past 18 months to allow the group to service all types of work, from short local coach hire to European tours. European Travel Group also provides local educational based services and is responsible for transporting large volumes of students.
The funding from Santander Corporate & Commercial will allow all three companies to operate under the same roof. Prior to receiving this, they were all working from separate leased premises. The group’s strategy is to continue to make acquisitions in the sector as opportunities arise.
Derrick Collin, Director at European Travel Group, said:
We have worked with Santander for a number of years and their understanding of our business continues to impress us. The new head office will allow us to make significant savings across our business and streamline operations which in turn will enable us to focus on growth.
Vanessa Collins, Relationship Director at Santander Corporate & Commercial said:
European Travel Group has worked hard over recent years to provide the full range of services its customer’s need, from transporting students locally to taking people on holidays across Europe. The new head office will help Derrick and the team to work more efficiently under one roof.