// Victorian Plumbing announces plans to float on London’s AIM market
// The retailer is planning expansions into European countries including France & Spain
The online bathroom specialist Victorian Plumbing has revealed plans to float on London’s AIM market later this month.
The Liverpool-headquartered company, which sells more than 24,000 products from over 125 brands IPO is expected to take place around June 22.
Former chief executive of William Hill Philip Bowcock will be appointed as Victorian Plumbing’s new chairman upon admission while Damian Sanders, a board member at Cineworld and The Hut Group, will also become a non-executive director.
The company achieved a revenue of £208.7m and an adjusted EBITDA of £26.2m in the financial year to September 30, 2020.
Plans ahead include the potential expansion into countries such as France, Ireland, Germany and Spain as well as making improvements to the supply chain and customer experience.
Founder and chief executive of Victorian Plumbing Mark Radcliffe 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.”
The announcement came as the home improvement market continues to boom with Wickes, the DIY retailer, reported its group sales in the 21 weeks to May 22 soared 45.7 per cent on a comparable basis.