The group behind beauty technology company CurrentBody is eyeing a float on the London Stock Exchange which could be worth £350m.
The Beauty Tech Group has lined up Berenberg to lead the business through an initial public offering (IPO), according to a report first published by Sky News.
The group is headquartered in Manchester and also includes ZIIP Beauty and Tria Laser as well as CurrentBody.
It is run by co-founder and chief executive Laurence Newman and acquired ZIIP Beauty and Tria Laser in 2023 and 2024 respectively.
It is expected that The Beauty Tech Group would float on London’s main market later this year.
As well as Newman, the owner of CurrentBody is also run by co-founder and chief technology officer Andrew Showman and finance chief Sam Glynn.
Its shareholders also include a number of high net worth individuals.
According to figures released by the group, it’s revenue surpassed the £100m mark for the first time in 2024, up from the £80m it posted in 2023.
In a statement issued to City AM, Newman said: “2024 was another significant year financially and strategically for the group.
“We delivered revenue of over £100m and successfully acquired Tria Laser while also completing the integration of ZIIP Beauty.
“These acquisitions have diversified and increased the group’s product offering across the rapidly growing beauty tech market and, in line with our strategic ambitions, the Group is now focused exclusively on own-brand products.
“I am pleased that the group’s strong performance through 2024 has continued into January and I am confident that 2025 will be another record year.
“As increasing international demand and the group’s operational infrastructure provide foundations for the next stage of its global growth, the group is considering its strategic options, which includes a London IPO later this year.”