In the six months ended 30 September, Dr Martens achieved an 18% year-on-year increase in group revenue to £ 318.2 million.
Photographer: Simon Dawson / Bloomberg
Photographer: Simon Dawson / Bloomberg
Dr Martens is considering an initial public offering on the London Stock Exchange as owner Permira Holdings tries to sell a stake in the iconic UK manufacturer amid rising stock markets.
The company does not plan to raise money in the IPO, according to a statement released Monday.
Permira begin to work with advisers in mid-2019 on ways to Martens en interest attracted by suitors, including competitive private equity firm Carlyle Group, Bloomberg News reported at the time. These discussions have not led to an agreement and Permira He allegedly revived plans to abandon his investment last year.
Strong stock markets make IPOs another attractive exit option, with the FTSE 100 index being the benchmark best start of a year on record. Investors are boosting UK equities, helped by a long-awaited Brexit deal and global growth optimism. Dr Martens is the third company to estimate plans for a London listing in two weeks.
Since paying 380 million euros ($ 463 million) for the shoemaker in 2014, Permira has expanded its global brand presence, opened new stores and expanded its e-commerce offering.
At least 25% of dr. Martens’ share capital will be available for trading at the time of listing, the company said on Monday, adding that it expects to be eligible for the FTSE UK indices. A further 15% will be made available in an option for redistribution.
In the six months ended September 30, Dr Martens achieved an 18% year-on-year increase in the group to £ 318.2 million ($ 430 million), while earnings before interest, tax, depreciation and amortization increased by 30% rose to £ 86.3 million. in the period, according to the statement.
Goldman Sachs Group Inc. and Morgan Stanley are joint global coordinators, while Barclays Plc, BofA Securities, HSBC Holdings Plc and Royal Bank of Canada will be joint book buyers if the offer continues. Lazard & Co. is the financial advisor of the company.