Cheshire-based The Beauty Tech Group has announced a valuation of up to £320million for its stock market debut in London next month.
The business, which is behind beauty gadgets reportedly used by celebrities including Kim Kardashian and Serena Williams, said shares for the IPO will be priced from 251p to 291p each.
This will value the firm, whose owned brands include CurrentBody, ZIIP Beauty and Tria Laser, at between £280million and £320million once it lists on the London Stock Exchange in October to “position the group for the next stage of its development.”
This includes “further enhancing the group’s profile and brand awareness, assisting in retaining and incentivising senior management and key employees and providing it with a platform for continued growth,” according to the company’s pre-IPO spiel.
The firm will raise approximately £29million by offering 11.6million new shares in the business, with up to 29.3million shares also being sold by existing shareholders.
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The flotation will give a much-needed boost to the London market in a lacklustre 2025, which has seen just nine new listings via the LSE in the first half of the year, with a number of firms departing for overseas rivals, particularly the NYSE and others being taken private.
Cheshire-headquartered Beauty Tech Group was founded in 2009 as CurrentBody.com by chief executive Laurence Newman and chief technology officer Andrew Showman.
Initially selling third-party at-home beauty devices, the group shifted in 2019 to exclusively selling its own-brand products under the three brands.
Products include face masks, hair-growth stimulator helmets and hair-removal gadgets, with a focus on products that use LED, radio frequency, microcurrent and laser treatments.
The firm made underlying earnings of £22.9million on revenues of £101.1million last year, while sales increased by 27 per cent to £55.2million in the first half of this year.
The Cheshire-based group estimates the at-home beauty market is worth around £9billion to £12billion globally and is a rapidly growing part of the wider £464billion global beauty and personal care sector. It added that international growth had been a key driver of growth in recent years, with the firm’s products now available in more than 90 countries.
The company has also appointed former Games Workshop – one of the UK’s best performing businesses despite its apparent niche status – chairwoman Elaine O’Donnell as its non-executive chairwoman ahead of the planned flotation.
