Unique Customer First Proposition
  • Customer service excellence is the central pillar of our strategy
  • Engaged colleagues, fundamental to differentiated customer service
  • Specialist highly-recognisable brands, local and regional leadership
  • Creates loyal, long term customer relationships
Successful Value-Creative M&A History
  • Independent merchants (£2-100m turnover) hold 40% of market and are prime for consolidation
  • Attractive buyer for family businesses – good continuity and development
  • Lords track record of acquiring specialist merchants at 4-6x EBITDA which are earnings accretive
  • 15 acquisitions in last 5 years, delivering 20%+ return on investment
Substantial Organic & Margin Accretive Growth
  • New markets and customers via new store roll out of existing brands
  • Accelerating digital capabilities create new repeat customers
  • Increasing share of customer wallet through marketing new products
  • Growing penetration of decarbonisation products drives margin expansion
Strong Financial Profile
  • [Well] on track to deliver £500m revenue target by 2024
  • Growth levers aiming to enhance EBITDA margin to 7.5% in medium term
  • Highly cash generative, attractive working capital profile
  • Progressive dividend policy
Well Positioned In Substantial UK RMI Market
  • <1% market share in highly fragmented markets
  • 45% of revenue within essential and resilient “Repair” sector of RMI
  • Track record of high growth - 5yr revenue CAGR of 50.7% vs market growth1 of 1.4%
Management Track Record
  • Recognised industry leaders and aligned with shareholders via significant majority shareholding
  • Management team have in excess of 200 years industry experience
  • CEO has led the Group that has delivered growth in previous 3 economic downturns

1 Office for National Statistics 2017 to 2022, All R&M