Victorian Plumbing to float on AIM
Set to take place ‘on or around’ 22 June 2021, the IPO represents a continuation of the online retailer’s growth trajectory
Victorian Plumbing, an online retailer of bathroom products and accessories, has announced its intention to float on AIM, the submarket of the London Stock Exchange.
Set to take place “on or around” 22 June 2021, the IPO represents a continuation of Victorian Plumbing’s growth trajectory.
The group, which stocks over 125 brands across a range of areas and price levels, said that it controlled 14.2% of the bathroom market by revenue in 2020.
While the e-commerce retailer saw £208.7m in revenues and £26.2m of adjusted EBITDA for the financial year ended 30 September, this increased to £140.7m and £20.1m respectively in the half year to 31 March 2021.
Mark Radcliffe, founder and CEO at Victorian Plumbing, said: “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.”
The firm’s decision to float on AIM follows that of Made.com, the online furniture retailer, who confirmed its intention for a £1bn IPO this May.
Made.com has experienced a similar spike in growth, with the sector “shifting steadily online” due to both Covid-19 restrictions and retail consumption habits.
