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Victorian Plumbing float on AIM with a valuation of £850 million - The biggest AIM IPO ever

June 2021

 

Headquartered in Skelmersdale, Lancashire, Victorian Plumbing is a digitally native retailer of bathroom products and accessories, offering a wide range of over 24,000 products to B2C and trade customers. The Group has grown rapidly in recent years and is now the UK’s leading online specialist bathroom brand by revenue in 2020 (source: Mintel) and the second largest retailer of bathroom products in the UK with an estimated 14.2 per cent of the bathroom market by revenue in 2020.

Its website provides a high quality and user-friendly experience for both B2C and trade customers, offering a one-stop shop solution for the entire bathroom with more than 125 brands across a wide spectrum of price points.

 

Admission to Trading on AIM

On 22nd June 2021, admission and dealings commenced by way of a Placing of 113,549,619 Ordinary Shares at 262 pence per Ordinary Share giving a valuation of around £850m. This is the biggest IPO ever recorded on London’s AIM.

 

Reasons for Admission and Use of Proceeds

The Directors believe that Admission will position Victorian Plumbing strongly for the next stage of its development, including raising the profile of Victorian Plumbing with customers and suppliers, further strengthening brand recognition and assisting in the attraction, incentivisation and retention of employees through appropriate incentive arrangements.

The primary proceeds of the Placing will be used to satisfy the direct costs of the listing process and preserve the capital structure and cash position of Victorian Plumbing.

The Perivan shareholder communications team were delighted to work with Jones Day who were appointed as Legal advisers to Victorian Plumbing and GCA Altium Limited who were appointed Nominated Adviser and Financial Adviser on the successful publication of the 175-page admission document.

 

Perivan specialise in the production and publication of financial documents relating to shareholder and investor communications for quoted companies, private companies and open and closed-ended funds.

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