Ramsdens is a growing, diversified, financial services provider and retailer, operating in the four core business
segments of foreign currency exchange, pawnbroking loans, precious metals buying and selling and retailing
of second hand and new jewellery. Headquartered in Middlesbrough, and from roots that can be traced
back to the 1970s, the Group operates from over 160 stores within the UK (including 4 franchised stores) and
has a small but growing online presence.
VIDEO: Peter Kenyon, CEO, in conversation with Downing LLP:
In the last financial year, the Group served over 832,000 customers across its different services. Ramsdens
is fully FCA authorised for its pawnbroking and credit broking activities.
Ramsdens grew significantly between 2009 and 2013, investing heavily in the Ramsdens brand, its core
service lines and store estate. Following a change in market conditions, including a material fall in the gold
price, the management team reacted decisively to focus on cash generation from the existing store estate.
In 2014, a management buyout facilitated an exit of the previous major shareholders of Ramsdens and
provided the funding that enabled the Group to repay its existing bank debt and management to update its
strategy. Since the MBO, the Group’s strategy has focussed on growing profits from the existing store estate
through investment in the foreign currency exchange and jewellery retail segments, acquiring pawnbroking
loan books and optimising cash generation with the ultimate aim of creating a well balanced, resilient
business from which to generate further growth, both organically and by acquisition.
The Directors believe that the Group’s key strengths are:
- a good record of cash generation and a strong balance sheet;
- an experienced and motivated senior management team with a clear growth strategy;
- a recognised brand benefiting from significant investment including sports sponsorship and TV
- a diversified and complementary offering of products and services appealing to a broad demographic;
- a well invested branch estate and central infrastructure to support growth, including a market leading
IT system; and
- a large, growing and high repeat customer base.
From this strong platform, the Directors believe there is now a real opportunity to grow the business in the
markets in which the Group operates.