Victorian Plumbing to float on AIM
Online bathroom retailer Victorian Plumbing has announced plans to float on the AIM market of the London Stock Exchange.
Providing a one-stop shop solution for customers’ bathrooms, the company offers over 24,000 products across 125 brands. In the year to 30 September, it achieved revenues of £208.7 million with an adjusted EBITDA of £26.2 million.
In a statement, the company said its future plans include driving growth through new product innovation, expanding into new categories, making improvements to the supply chain and customer experience, and expanding into certain markets in Europe. It will also increase revenue from customers through a dedicated trade team and more trade-focused marketing.
Mark Radcliffe, founder and chief executive of Victorian Plumbing, said: “It’s been a fantastic and eventful journey growing Victorian Plumbing over the past two decades. Our early and sustained investment in digital retailing and the advantages that brings has allowed us to make the most of the structural shift in consumers increasingly looking to buy bathroom products online.
“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.”
