Dr. Martens recorded an 18% year-on-year increase in the group’s revenue to £ 318.2 million during the six months ended September 30th.
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 seeks to sell a stake in the iconic British buttonhole amid concentration stock exchanges.
The company has no plans to raise money on the IPO, according to statement released Monday.
Permira began working with advisors in mid-2019 on ways to download Dr. Martens i attracted the interest of suitors, including the rival private equity firm Carlyle Group, according to Bloomberg News, reported then. These debates did not result in an agreement and Permira he is said to have recovered plans to abandon his investment last year.
Strong equity markets make IPOs an attractive exit option once again, with the benchmark FTSE 100 index publishing its best start to a year on record. Investors are accumulating in UK stocks, helped by a long-awaited Brexit deal and optimism for global growth. Dr. Martens is the third company to set plans for a listing in London in two weeks.
Since paying 380 million euros ($ 463 million) for the boot maker in 2014, Permira has increased the brand’s global presence, opening new stores and expanding its e-commerce offering.
At least 25% of the share capital of Dr. Martens will be available for trading on the stock exchange, the company said on Monday, adding that it expects to be eligible for inclusion in the FTSE UK indices. An additional 15% will be available in an over-allocation option.
Dr. Martens recorded an 18% year-over-year increase in the group’s revenue to £ 318.2 million ($ 430 million) in the six months ended Sept. 30, while earnings before interest, taxes, depreciation and amortization rose 30% to £ 86.3 million. in this period, according to the statement.
Goldman Sachs Group Inc. i Morgan Stanley is joint global coordinator, while Barclays Plc, BofA Securities, HSBC Holdings Plc and Royal Bank of Canada will be joint book brokers in the event of an offer. Lazard & Co. is the company’s financial advisor.