After more than a decade of leading Retail & Sports Systems (R&SS) through its evolution into Jonas Sports, Richard Waltham is stepping away from the business. As the co-founder and former Managing Director, Richard has witnessed firsthand the incredible transformation of R&SS into a thriving part of the Vesta Software Group.
In this Q&A, Richard shares his journey, from founding R&SS in 2009 to the decision to sell to Vesta in 2019, and how the business has grown and adapted since. Reflecting on his experience, he offers insights for other business owners considering a similar path and shares what’s next for him as he moves on to new opportunities.
Q: Can you tell us a little about how Retail & Sports Systems (R&SS) started?
A: R&SS was born in 2009 as a self-funded venture, and we officially launched in 2010. Our aim was to provide omni-channel retail systems tailored to the professional sports industry. Over the years, we were fortunate to partner with some incredible football and rugby clubs, like Brighton & Hove Albion and Wolverhampton Wanderers. But as the company grew, so did the demands, and I found myself wearing many hats, from operations to HR and accounts.
Q: What led to the decision to sell the business?
A: By the end of 2019, we had onboarded several new clubs and were seeing year-on-year growth, but it was becoming clear that I couldn’t keep up with the pace of running everything myself. We had two options – restructure internally by appointing a new Managing Director or look for the right partner to help us grow further.
When Vesta approached us, their “buy and hold forever” ethos immediately stood out. I knew the company wouldn’t be asset-stripped, and Vesta’s decentralised structure meant we could retain autonomy while still benefiting from their support with HR, finance, and legal processes. It was exactly what we needed.
Q: What was the acquisition process like?
A: The sale was completed in December 2019, and shortly after, the pandemic hit, which certainly made things more challenging. However, Vesta’s support was incredible. They implemented effective IT systems that allowed us to work remotely without missing a beat.
One of the biggest changes for me personally was stepping back from the operational side of the business. I transitioned into a Head of Business Development role, which allowed me to focus on driving growth while handing over day-to-day responsibilities to our newly appointed Business Unit Leader.
Q: How has the company changed since the acquisition?
A: The transformation has been phenomenal. Since joining the Vesta family, we’ve expanded our development and support teams, introduced Agile practices, and enhanced training opportunities for staff. We’ve also adopted more flexible working arrangements and implemented Town Hall meetings, which have been fantastic for fostering transparency and team collaboration.
On a larger scale, the transition to Jonas Sports has been pivotal. By uniting the strengths of R&SS and other companies in the sports retail market, Jonas Sports has become a complete enterprise solution for sports clubs. It’s been amazing to see the impact of our innovations on how clubs use data and insights to engage fans and maximise revenue.
Q: What have been some of the highlights of being part of Vesta?
A: There are many, but one that stands out is winning work with a top 6 football club. As a small standalone company, that opportunity simply wouldn’t have been possible. Being part of Vesta gave us access to resources, expertise, and a community of like-minded businesses that opened doors we hadn’t considered before.
Q: You’ve been with the company for five years post-acquisition. What made you stay longer than planned?
A: Initially, I thought I’d stay on for about two years, but as I transitioned into a reduced role – down to three days a week and eventually two – it gave me the balance I was looking for. I’ve loved seeing the business thrive, and that’s what kept me around for five years.
Q: Any advice for business owners considering selling to Vesta?
A: Absolutely. If you’re looking for a partner who genuinely cares about your business and its legacy, Vesta is an excellent choice. They’re not about short-term gains; they’re about supporting long-term success. Plus, if you want to stay involved post-acquisition, as I did, they offer the flexibility to do that while helping you step back from the areas you no longer want to manage.
Q: What’s next for you?
A: It’s a bittersweet moment leaving the business, but I feel it’s the right time. I’m proud of what we’ve built and excited to see Jonas Sports continue to grow. As for me, I’m looking forward to exploring new opportunities and spending more time with family.
Q: Any final reflections?
A: Reflecting on the past five years, I can confidently say the decision to sell to Vesta was the right one. It allowed R&SS to evolve into something even greater while staying true to its core values. I’m incredibly grateful for the journey and proud of the legacy we’ve built.
