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PRIVACY
Economic Development

Rich List 2017: No.=30 - Anthony and Graham Coombs and family

The family behind credit business S&U is a new entry on the Rich List with a £150 million fortune

Anthony Coombs(Image: Roland Rowley)

Finance
2017: No.=30 - £150m
2016: New Entry

Twins Anthony and Graham Coombs and their family have a £150 million stake in S&U, the Solihull credit business founded in Birmingham before the war by Welshman Clifford Coombs.

That was in 1938. Now the company, which specialises in consumer credit and card finance, turns over more than £45 million a year.

The Cranmore Avenue-based business is profitable, showing a pre-tax profit of just under £20 million in 2015, with assets of £128 million.

The business was floated on the London Stock Exchange in 1961.

After operating for 40 years, S&U and its sister company S.D Taylor Ltd changed their business model in the mid-70s, moving from a goods-based credit business to a finance and hire purchase operation.

This was successfully taken forward by Clifford Coombs's sons.

The home credit operation - Loansathome4u - was sold in August 2015 for £82 million.