Online bathroom products retailer Victorian Plumbing to float on AIM
Victorian Plumbing, an online bathroom products retailer, has unveiled plans to float on the London Stock Exchange’s AIM market later this month.
The company headquartered in Liverpool is expected to go public on or around June 22nd.
Upon admission, former William Hill CEO Philip Bowcock will be appointed as the new Chairman of Victorian Plumbing.
Damian Sanders, who is a board member at Cineworld and The Hut Group, will also become a non-executive director.
The company generated revenues of £ 208.7 million and adjusted EBITDA of £ 26.2 million for the fiscal year to September 30, 2020
Founder and CEO Mark Radcliffe said: “Victorian Plumbing is the UK’s most recognized online bathroom brand and we work hard every day to ensure that we provide consumers with the widest choice of quality bathroom products. Our approach is industry-leading, as evidenced by our substantial and growing market share.
“It has been a fantastic and eventful journey to grow Victorian Plumbing over the past two decades. Our early and sustained investment in digital retail and the benefits it brings have enabled us to make the most of the structural shift of consumers who increasingly want to buy bathroom products online.
“I am incredibly proud of all of our employees who have built this unique company, developing an incredibly strong, exciting and trusted brand, along with a hard-working and innovative culture.
“As we are now the UK’s leading online retailer of bathroom products, now seems like the ideal time to enter the UK stock market.
“With the deep industry expertise and talent of our senior team members and the fundamental strengths of our proven business model within a growing market, we are delighted with the significant growth opportunities that lie ahead for Victorian Plumbing.”
GCA Altium acts as nominated advisor and financial advisor, while Barclays Bank and Numis Securities are joint global coordinators.