The proprietor of CurrentBody, a model of magnificence know-how utilized by celebrities similar to Kim Kardashian and Serena Williams, is plotting a £350m flotation that would ship a lift to the flagging London inventory market.
Metropolis sources stated on Tuesday that Berenberg had been appointed to steer the corporate by an preliminary public providing (IPO).
Based mostly in Manchester, The Magnificence Tech Group contains three manufacturers: CurrentBody, ZIIP Magnificence and Tria Laser.
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The latter two have been acquired by the mum or dad firm in 2023 and 2024 respectively.
Beneath plans being formulated by The Magnificence Tech Group and its advisers, a flotation would take plans on the primary London market sooner or later in 2025.
Particulars, embrace the dimensions of any main share sale, have but to be finalised, insiders stated.
The corporate is owned by its administration crew – led by Mr Newman but in addition together with co-founder and chief know-how officer Andrew Showman and finance chief Sam Glynn – and a gaggle of excessive internet price people.
It describes itself as a world trade chief in home-use magnificence know-how, and is concentrated on merchandise which use LED, radio frequency, microcurrent and laser remedies.
A profitable inventory market debut would characterize a constructive growth for the London Inventory Change throughout a interval when looking out questions are being posed about its attractiveness as a list vacation spot.
A string of corporations have introduced plans to shift their main listings throughout the Atlantic, whereas a lot of takeovers of London-listed corporations, coupled with a dearth of latest listings, have compounded the sense of gloom.
The Magnificence Tech Group noticed a considerable improve in income final yr, with gross sales passing the £100m mark for the primary time, up from £80m in 2023.
Its revenues comprise slightly below 1 / 4 from the UK and 77% internationally.
Because the starting of this yr, it has been solely centered on own-brand gross sales.
The sweetness know-how market is projected to develop from £2.7bn in world gross sales in 2023 at a compound annual progress price of as much as 17% till 2026, based on a report by the skilled companies agency PricewaterhouseCoopers.
“We delivered revenue of over £100m and successfully acquired Tria Laser while also completing the integration of ZIIP Beauty.
“These acquisitions have diversified and elevated the Group’s product providing throughout the quickly rising magnificence tech market and, in step with our strategic ambitions, the Group is now centered solely on own-brand merchandise.
“I am pleased that the Group’s strong performance through 2024 has continued into January and I am confident that 2025 will be another record year.
“As rising worldwide demand and the Group’s operational infrastructure present foundations for the following stage of its world progress, the Group is contemplating its strategic choices, which features a London IPO later this yr.”
The Magnificence Tech Group counts Harrods amongst its retail companions, whereas its merchandise are additionally offered on greater than 20 direct-to-consumer web sites world wide.
It just lately partnered with Manchester College’s dermatology division to analysis alternatives for superior magnificence applied sciences related to areas of shopper demand similar to hair regrowth and anti-aging.
