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Victorian Plumbing Group to float on AIM, as DIY boom continues

·1-min read
<p>Victorian Plumbing Group intends to float on AIM</p> (Victorian Plumbing Group)

Victorian Plumbing Group intends to float on AIM

(Victorian Plumbing Group)

Online bathroom specialist Victorian Plumbing has announced plans to float on London’s AIM market.

The announcement came as the home improvement market continues to boom. Wickes, the DIY retailer, said its group sales in the 21 weeks to May 22 soared 45.7% on a comparable basis.

Victorian Plumbing, which sells more than 24,000 products from over 125 brands, said the launch is expected to take place around June 22.

The retailer, which was founded in 2000 and recorded revenues of £208.7 million in the year to September 2020, said it has grown rapidly in recent years, and is in a market expected to benefit further from a number of tailwinds including a structural shift to online channels.

The firm, which is advertised by interior design TV star Laurence Llewelyn-Bowen, is chaired by former William Hill boss Philip Bowcock and led by founder Mark Radcliffe.

Radcliffe said: “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.”

Plans ahead include potential expansion into countries such as France, Ireland, Germany and Spain.

GCA Altium, Barclays Bank and Numis are all working on the float.

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