Victorian Plumbing
LSE: VIC
Industry
HeadquartersSkelmersdale[1],
United Kingdom
Key people
Mark Radcliffe[2]
RevenueIncrease285.1 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

At the time of their initial public offering, the company claimed that eighty-six per cent of its sales came from retail customers.[3]

History

Mark Radcliffe founded the company in 2000. Radcliffe began his career selling mobile phone accessories on eBay. Radcliffe 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 five-hundred and forty people at 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 to be among the group's largest non-family shareholders post-IPO.[3]

IPO

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 forty-five per cent in the last two quarters of the 2020 financial year.[3]

The company's stock debuted at 262 pence per share and closed at 330 pence 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 per cent.[5] Radcliffe's brother and mother own a twenty per cent stake between them.[4]

Sponsorship

On 6 June 2023 it was announced that Victorian Plumbing would become the principal shirt sponsor of EFL League One team Bolton Wanderers.[6]

References

  1. ↑ 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.
  2. 1 2 Nicholson, Abigail (2021-06-23). "Scouser's bathroom business he started in parents' shed now worth £1bn". Liverpool Echo. Retrieved 2021-09-29.
  3. 1 2 3 4 5 6 7 Eley, Johnathan (2021-06-22). "Victorian Plumbing IPO marks biggest debut on London's junior market". Financial Times. Retrieved 2021-09-29.
  4. 1 2 Armstrong, Ashley (2021-06-02). "The Victorian Plumbing pipe dream that turned into £1bn". The Times. Retrieved 2021-09-29.
  5. ↑ Morgan, Francesca (2021-06-23). "Victorian Plumbing makes history as biggest ever float on AIM". Vox Markets. Retrieved 2021-09-29.
  6. ↑ 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

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