A LAW firm has supported a private equity company on a pawnbroker management buyout.

Muckle, in Newcastle, worked with NorthEdge Capital on the acquisition and investment into Ramsdens.

The move came after Ramsdens owner and chairman, Stewart Smith, agreed to the buyout following his decision to retire.

Bosses say the NorthEdge deal will allow the pawnbroker to develop its stores and expand its products.

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

The sponsor of Middlesbrough Football Club, it last year had a turnover of £40m.

The buyout was led by Muckle’s partner, Craig Swinhoe, and involved up to ten lawyers in its corporate team.

He said: “We are delighted to have worked closely with NorthEdge on their eighth investment in the last 18 months.

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

James Hall, NorthEdge director, added: “Craig and his team provided clear, pragmatic and commercial advice and gave us complete confidence they were on top of all the issues.”