Cash injection for pawnbroker Albermarle & Bond
Established in 1983, Albemarle & Bond is the largest UK pawnbroker, operating 115 stores nationwide and providing a variety of services including gold buying, cheque cashing and pawnbroking. The business was acquired in 2015 by Asia Growth Capital Ltd, whose holdings include the Japanese pawnbroker Daikokuya.
The investment & finance division of Gordon Brothers Europe and Gordon Brothers Finance Company have provided this capital injection to A&B in order to support the AGC’s revitalisation and growth plans for the business.
Kohei Ogawa, President of Asia Growth Capital said “We are excited to be working with Gordon Brothers Europe and Gordon Brothers Finance Company. The sector and asset expertise of Gordon Brothers has allowed us to put together a flexible structure that enables the business to take the next step in our evolution.”
Eli Appelbaum, Managing Director of Investment & Finance for Gordon Brothers Europe commented, “We were pleased to support AGC following its acquisition of Albemarle & Bond. This a great example of how the combination of asset expertise and ability to provide capital in non-standard circumstances can facilitate future expansion.”
The Gordon Brothers Investment & Finance practice specialises in supporting companies during periods of change, by leveraging Gordon Brothers’ core competencies of understanding asset values to support businesses with capital. The company’s strategic relationship with Gordon Brothers Finance Company allows it to bring to bear additional resources and capital to the European market to support businesses undergoing a transition.
“It has been a pleasure to work with AGC as they look to grow British pawnbroker Albemarle & Bond,” commented Lawrence E. Klaff, Senior Managing Director at Gordon Brothers Finance Company. He added, “We effectively leveraged the expertise of Gordon Brothers Europe, enabling us to provide A&B with the cash needed. Our portfolio in Europe continues to grow and we look forward to completing more transactions with companies requiring capital beyond the traditional financing sources.”