EAST Lancashire-based C&S Coaches is targeting future expansion after purchasing its premises.

The business, which has its headquarters in Colne and employs 16 people, completed the deal after securing funding from Yorkshire Bank.

The company spent £312,000 buying the premises it previously rented.

Managing director David Brennan bought C&S Coaches 20 years ago and has expanded the business’ fleet in that time from three vehicles to 17.

The deal was conducted by Paul Williams, relationship manager at Yorkshire Bank’s Business and Private Banking Centre in Bolton.

The Pendle firm handles both public and private contracts, with the majority of its routes dedicated to transporting disabled children to and from schools.

It comes after C&S Coaches expanded its offering in 2011 by opening an MOT and service garage for cars, vans and minibuses.

Mr Brennan said: “Purchasing our premises has helped us significantly improve our business.

“Our future in the area has been cemented and we are making significant savings on our rent.

“With Yorkshire Bank’s support we can re-invest savings from the purchase into continued improvement and expansion of the business.”

Sean Williams, head of Yorkshire Bank’s Business and Private Banking Centre in Manchester, said: “C&S Coaches’ recent purchase is proof of its commitment to continue serving the local community.

“Yorkshire Bank is proud to support businesses looking for opportunities to expand. The move that David and his business has made gives them a secure base which will provide a platform for further investment and growth.”

Yorkshire Bank recently launched a series of lending initiatives for UK businesses, designed to encourage growth for new and existing customers. As well as capital-free periods for up to five years, the bank has also introduced high percentage funding for firms to buy trading premises.