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Wrexham Opticians Acquisition Backed by Development Bank

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Local optician Huw Owens has taken over A1 Eyewear on Charles Street, Wrexham.

Established in 1986, A1 Eyewear was previously owned by Clare Hodinkson. Huw Owens has acquired the successful practice with the help of Business Wales and a £50,000 loan from the Development Bank of Wales.

A1 Eyewear is one of Wrexham’s leading independent opticians offering eye tests, glasses, contact lenses and accessories along with a repair and maintenance service. As the new owner, Huw now has plans to further develop the range of eyecare services available.

He said:

“A1 Eyewear has a strong reputation for offering our loyal customers the highest possible standards of professional eyecare.

“Preventative eye care is so important but it is easy to neglect your eyes because they often don’t hurt when there’s a problem. Having a regular eye test is an important eye health check that will spot any early signs of eye conditions, many of which can be treated if found early enough.

“We will now be further developing our eyecare services and the range of eyewear that we provide including contact lenses, glasses and sunglasses. I’m really looking forward to working with our patients and am very grateful to both Business Wales and the Development Bank of Wales for their excellent support. Buying a business can be a nerve wracking experience but their thorough and seamless approach meant that I felt totally confident throughout the purchase.”

Anna Bowen is an Investment Executive with the Development Bank of Wales. She said:

“Our micro loans offer affordable and flexible funding for entrepreneurs looking to start, buy or grow a business. We’re here to lend a helping hand to professionals like Huw who have the aspiration and vision to build a successful local business at the heart of community life.”

Clive Barnard, Relationship Manager at Business Wales, added:

“Helping Huw to agree a business structure and develop a robust business plan has been an excellent example of how important it is for entrepreneurs to obtain appropriate business advice. Working so closely with the Development Bank of Wales provides business owners witht the opportunity to benefit from a simple access point to a range of business and funding opportunities.”

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The Development Bank of Wales funds businesses that they think will benefit Wales and its people. The ones that will create ripples of growth- those that are more than a good business model or a great idea. They finance responsible businesses – those with a strong social, ethical and environmental standards, as well as real commercial promise.

By providing sustainable, effective finance where options have seemed limited, they bring ambitions to life and fuel possibilities for people, businesses and communities in Wales and beyond.

The Development Bank’s ‘big picture’ view means it can often help with debt and equity finance when options seem limited, doing whatever it takes to make a positive difference, bringing together the right people and working collaboratively to find a way to make things happen for Welsh businesses and for Wales.

Its teams are embedded in local communities, working out of regional offices that give customers direct access to key decision-makers and signposted avenues of support. They understand what’s happening in Wales’ villages, towns and cities – the challenges and the opportunities. They see the potential for business growth as a catalyst for enhancing lives and communities in Wales and beyond.

For more information, visit the Development Bank website at www.developmentbank.wales to find out more.

 

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