Victorian Plumbing
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| LSE: VIC | |
| Industry | |
| Headquarters | Skelmersdale[1], |
Key people | Mark Radcliffe[2] |
| Revenue |  285.1 million (2023) |
Number of employees | 612 (2023) |
| Website |
Victorian Plumbing is a British eCommerce company listed on the London Stock Exchange's Alternative Investment Market (AIM).[3] The company specialises in bathroom related products. It also completed the largest ever IPO on the London Stock Exchange's Alternative Investment Market.
Overview
[edit]At the time of their initial public offering, the company claimed that 86% of its sales came from retail customers.[3]
History
[edit]Mark Radcliffe founded the company in 2000. He began his career selling mobile phone accessories on eBay, and claims to have started the business from his parents' shed after setting up a website for his father, who restored Victorian bathrooms for recreational purposes. The organisation employs approximately 540 people across its headquarters in Merseyside and its premises in Birmingham.[4]
The company claims that it raised £11.6 million in new money to cover most of the costs of the IPO.[3] JPMorgan is believed[by whom?] to be among the group's largest non-family shareholders post-IPO.[3]
In May 2024, Victorian Plumbing acquired its competitor Victoria Plum for £22.5 million, just over six months after Victoria Plum's pre-pack administration sale.[5]
IPO
[edit]On June 22, 2021, the company floated on the Alternative Investment Market[2] with a market capitalisation of £850 million.[3] Before the IPO, the company's sales grew by 45% in the last two quarters of the 2020 financial year.[3]
The company's stock debuted at 262p per share and closed at 330p per share, giving it a £1.4bn valuation.
Following the IPO, the Financial Times reported that the company's shares rose by a fifth, giving the organisation a £1 billion valuation making it the largest initial public offering in the history of London's junior market.[3]
Its founder divested £212M worth of shares, reducing his share to 46%.[6] Radcliffe's brother and mother own a 20% stake between them.[4]
Sponsorship
[edit]On 6 June, 2023 it was announced that Victorian Plumbing would become the principal shirt sponsor of EFL League One team Bolton Wanderers.[7]
References
[edit]- ^ Hiscott, Graham (2021-06-27). "Labourer's son hits billion pound jackpot after founding Victorian Plumbing in a garden shed". Manchester Evening News. Retrieved 2021-09-29.
- ^ a b Nicholson, Abigail (2021-06-23). "Scouser's bathroom business he started in parents' shed now worth £1bn". Liverpool Echo. Retrieved 2021-09-29.
- ^ a b c d e f g Eley, Johnathan (2021-06-22). "Victorian Plumbing IPO marks biggest debut on London's junior market". Financial Times. Retrieved 2021-09-29.
- ^ a b Armstrong, Ashley (2021-06-02). "The Victorian Plumbing pipe dream that turned into £1bn". The Times. Retrieved 2021-09-29.
- ^ "Victorian Plumbing buys Victoria Plum in £22.5m deal". BBC News. 2024-05-20. Retrieved 2024-05-20.
- ^ Morgan, Francesca (2021-06-23). "Victorian Plumbing makes history as biggest ever float on AIM". Vox Markets. Retrieved 2021-09-29.
- ^ https://www.bwfc.co.uk/news/2023/june/victorian-plumbing-become-new-principal-partner/, Victorian Plumbing Become New Principal Partner, Bolton Wanderers FC, 6 June 2023
6. https://www.business-live.co.uk/retail-consumer/victorian-plumbing-completes-largest-ever-20871324