UK DIY News
Victorian Plumbing To Launch IPO
Victorian Plumbing has announced its intention to float on London Stock Exchange's AIM market.
The online bathroom retailer has grown rapidly in recent years, having reported revenues of £208.7m in the year ended September 2020, with EBITDA of £26.2 million.
The company's headquarters are in Liverpool and there is a digital hub in Birmingham, employing approximately 540 staff across both sites.
Sources told The Times that Victorian Plumbing could be valued between £800 million and £1 billion when it launches the IPO, which is expected to take place on the 22nd June.
Stephnie Judge was appointed managing director of the business in September 2020, taking over from founder Mark Radcliffe, who became chairman.
Mr Radcliffe is understood to hold a 74% share in the business and his brother, Neil Radcliffe, who is Victorian Plumbing's product director, holds around 15%.
Mark Radcliffe, Founder and CEO of Victorian Plumbing, said: “Victorian Plumbing is the most recognised online bathroom brand in the UK; we work hard every day to make sure we are providing consumers with the largest choice of quality bathroom products. Our approach is industry leading, as evidenced by our substantial and growing market share.
“It’s been a fantastic and eventful journey growing Victorian Plumbing over the past two decades. Our early and sustained investment in digital retailing and the advantages that brings has allowed us to make the most of the structural shift in consumers increasingly looking to buy bathroom products online.
“I’m incredibly proud of all of our employees who have built this unique business and, in the process, have developed an incredibly strong, exciting and trusted brand together with a hard-working and innovative culture.
“As we are now the leading online retailer of bathroom products in the UK, it seems the ideal time to join the UK stock market. With the deep sector expertise and talent of our senior team members and the fundamental strengths of our proven business model within a growing market, we are excited for the significant growth opportunities that lie ahead for Victorian Plumbing.”
Source : Insight DIY Team
Insight provides a host of information I need on many of our company’s largest customers. I use this information regularly with my team, both at a local level as well as with our other international operations. It’s extremely useful when sharing market intelligence information with our corporate office.
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