5 Rings Growth Transition and Growth Plans

2018 was a year of growth and transition for 5 Rings. Operationally the business saw the transfer of the MD role from founder Geoff Raynsford to Pete Raynsford. It implemented a new ‘hub and spoke’ infrastructure to allow it to deliver continued regional expansion and it saw excellent growth in turnover driven by a strong performance in both IT and Telecoms.

Commenting on 2018 and plans for 2019 MD Pete Raynsford said:

“We are at an exciting stage in our development. We saw Geoff step back to a more advisory role, the introduction of some great new technology and were able to report sales growth of 18% across the group.

2019 may well pose some global economic challenges but our focus is firmly on well-established owner managed businesses and mid-sized businesses who tend to be resilient and extremely well managed.

As such we are planning further growth and face the new year with a strong balance sheet and a willingness to invest. We are also considering bolt on acquisitions in the IT Services sector. “

The group continues to support a selection of chosen charities which includes a major campaign to raise funds for ‘Care for Veterans’ entitled the ‘11 for 11’ campaign and Home Start Hertfordshire amongst others.

More information on 5 Rings can be found at www.5ringsgroup.co.uk