The Beauty Tech Group, a Manchester-based firm that owns a host of beauty treatment technology brands, has listed on the London Stock Exchange with an initial market cap of £300m.
Founded in 2009 under the name CurrentBody, The Beauty Tech Group now owns a portfolio including ZIIP Beauty and Tria Laser, with a presence in over 80 countries.
The listing, which saw the firm raise £29m, is one of just a few tech-focused floats in an otherwise slow year for the London Stock Exchange.
“This IPO represents an exciting opportunity for us to expand our international presence significantly and accelerate the development and launch of innovative new products,” said Sam Glynn, chief financial officer at The Beauty Tech Group.
“We can now look forward to expanding our business through new channels and markets on a global scale.”
The company was advised on its IPO by audit, tax and consulting firm RSM UK.
“This listing is a significant development for the beauty and tech sectors. It comes at a time when public market activity remains subdued, and the London Stock Exchange is experiencing low listing activity,” said Diane Craig, corporate finance partner at RSM UK.
“The Beauty Tech Group’s listing indicates new momentum in the UK’s public markets, and provides a boost to the London Stock Exchange’s efforts to attract high growth, internationally focused businesses.
“The listing reinforces the attractiveness of London for dynamic International companies looking to attract public capital to support their growth, especially in the face of growing competition from other global exchanges.”
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