NorthEdge backs Ramsdens

The fresh capital will allow Ramsdens to expand its store portfolio and further develop its product offering.

NorthEdge invested from its debut fund, which closed on £225m in March 2013. The deal marks NorthEdge's eighth investment.

The company secured a £15m debt refinancing from HSBC in September 2013, with which it planned to double its number of stores by 2016.

Company
Established in 1987, Ramsdens is an independent pawnbroker with 120 branches across North East England, Yorkshire, Scotland and Wales. As well as its pawnbroking business, Ramsdens offers foreign exchange services as well as buying gold, silver and mobile phones.

The company employs 450 people and is headquartered in Stockton-on-Tees.
Ramsdens sponsors Middlesbrough FC.

According to the Sunday Times Profit Track 100, Ramsdens reported profits of £9.6m in 2011.

People
The deal was led by NorthEdge partner and chief investment officer Andy Ball, director James Hall and investment director Tom Rowley. Following the deal, Ball and Hall will join the company's board. Also joining the board is non-executive director Andy Meehan, who has been chairman of other private equity-backed companies including GHD, American Golf and St Tropez.

Peter Kenyon is CEO of Ramsdens.

Advisers
Equity – Muckle, Craig Swinhoe, Matthew Walsh, Amy Wanless (Legal); EY, Mark Clephan, Mark Day (Corporate finance); KPMG, Steve Heath (Tax); Grant Thornton, Will Oxley, Andrew Baldwin (Financial due diligence); OC&C, David Hosein, Nigel Stirk (Commercial due diligence).

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• Topics
• UK / Ireland
• Buyouts
• NorthEdge Capital
• United Kingdom