Inspecs eyes £170m IPO
today Jun 17, 2019
The Bath-based company is being advised by broker Peel Hunt on a potential autumn listing which could value the business at about £170 million, reported The Times.
Inspecs made underlying profits of £6.2 million last year, whilst sales grew to £45 million.
The IPO could help the company raise up to £60 million, and help it continue its expansion after acquiring Hong Kong-based optical manufacturer Killine for £23.3 million in 2017. The transaction allowed it to bring all manufacturing in-house, and Inspecs has now further international manufacturing operations in China and Vietnam.
The eyewear designer now produces 8 million frames annually from its six factories. It licenses eyewear products for fashion and lifestyle brands including O’Neill and HYPE, and manufactures white-label products for Specsavers and Vision Express. It also owns the Savile Row eyewear brand.
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