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