UK - Rutland floats H&T on AIM

H&T is the UK’s leading pawnbroker with 69 outlets across the UK. The group’s core business is pawnbroking, where it has a pledge book of £24.6m, and retailing of jewellery sourced from its pawnbroking operations. In recent years the group has also diversified into other services including pay day advances, cheque cashing and pre-paid debit cards. H&T reported earnings before interest, tax and amortisation of £6.7m in 2005.

Rutland acquired H&T in September 2004 from Cash America International Inc. on a debt free / cash free basis for £49m, of which £15.4m was provided from the fund and the balance through a debt package from Barclays.

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