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Newcastle law firm assist NorthEdge’s acquisition of Ramsdens

Newcastle-based commercial law firm, Muckle LLP, has assisted private equity firm, NorthEdge Capital, on both its acquisition and its investment into the UK’s largest independent pawnbroker, Ramsdens Financial Ltd.

The management buyout has been completed for an undisclosed sum after Stewart Smith, owner and chairman of Ramsdens, agreed to sell following his decision to retire.

The company has plans for continued growth, as turnover has increased from £11.3 million in 2007 to £40 million in 2013.

Muckle has over 150 people in its team and 27 partners, working across an array of sectors including property, commercial, corporate, employment and dispute resolution.

The NorthEdge investment will now allow the pawnbroker group to further develop its store portfolio, growing and expanding its core products.

Founded in Coulby Newham, Middlesborough in 1987, Ramsdens currently employs 450 people at more than 120 branches across the North East, Yorkshire, Scotland and Wales.

Partner at Muckle LLP, Craig Swinhoe, said: “We are delighted to have worked closely with NorthEdge on their eighth investment in the last 18 months.

“This transaction will be the start of another exciting phase of development for Ramsdens.

“The deal was a fantastic one to be involved in.”

Director at NorthEdge, James Hall, said: “Craig and his team worked very hard to get the Ramsdens deal over the line.

“We would not hesitate to use Muckle again and recommend them to others.”