Make-up and skincare group Revolution Beauty is about to make its inventory market debut in a transfer anticipated to internet the agency’s founders a multi-million-pound fortune.
he group – which sells by retail giants together with Superdrug, Boots and Sainsbury’s – is planning to hitch London’s junior Aim market subsequent month in a reported £500 million preliminary public providing (IPO).
It is predicted to ship a hefty pay day for founders Adam Minto, 51, and Tom Allsworth, 55, who arrange the agency in 2014.
The group sells magnificence and skincare merchandise in additional than 11,000 shops with retailers throughout 45 nations, in addition to on-line by the likes of lookfantastic, and ASOS, whereas it additionally sells direct to customers.
Its current shareholders, together with the founders, will promote shares within the IPO, whereas newly issued shares may even be on supply.
Mr Minto and Mr Allsworth personal the enterprise with minority shareholder TSG Consumer Partners.
The founders will retain a 30% stake, whereas TSG will promote nearly all of its holding.
Investment agency Jupiter Asset Management has already agreed to snap up £90 million price of shares within the float.
It comes amid a flurry of flotations as corporations faucet into buoyant inventory markets, with firms eager to attempt to win over a number of the billions hoarded by traders in the course of the Covid disaster.
Private fairness agency Bridgepoint additionally unveiled IPO plans on Tuesday, set to worth the agency at a reported £2 billion, with different huge names to hitch the London Stock Exchange this yr together with Moonpig, Dr Martens and Virgin Wines.
Mr Minto, who’s chief govt of the Revolution Beauty, stated the IPO marks a “vital milestone” for the agency.
“I began Revolution Beauty eight years in the past to begin a revolution in magnificence. I wished to make top quality cosmetics and skincare inexpensive for everybody and now we’re on observe to realize these objectives world wide,” he added
The agency, which employs greater than 220 workers, made gross sales of £157.6 million within the 14 months to February 28 and underlying earnings of £13.1 million.
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