The parent company of CurrentBody is preparing to float on the London Stock Exchange.
Cheshire-headquartered Beauty Tech Group could be valued at £300m in what would be London’s first significant IPO this quarter following falling deal volumes in the first half of the year.
The stakes of founders Laurence Newman and Andrew Showman – featured on our Northern Leaders list in 2024 – will be valued at £23m and £25m respectively if the £300m valuation is achieved.
Simon Cooper, founder of the holiday website On the Beach, holds a similar stake.
Also among its shareholders are eComplete, the eCommerce group co-founded by former MyProtein CEO Andrew Duckworth. Its £50m injection in 2021, the first investment made by the group, was for a majority stake.
Founded in 2009 as Currentbody.com, Beauty Tech Group’s products now include CurrentBody Skin, ZIIP Beauty and Tria Laser – respectively, a red LED mask to reduce wrinkles, lasers to remove hair and electrical currents to get rid of spots.
They are used by celebrities including tennis legend Serena Williams and reality TV star Kim Kardashian.
The firm reported EBITDA (adjusted earnings before interest, tax, depreciation and amortisation) of £22.9 million on revenue of £101.1m last year. Now global markets make up 22% of its sales.
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“Founded with the ambition to bring clinically proven, professional-grade beauty technology into everyday use, I am extremely proud of the Beauty Tech Group’s achievements to date,” said Newman.
“There are significant opportunities ahead … and an IPO on the London Stock Exchange will provide us with access to capital and enable us to raise awareness and incentivise staff to take the business to the next level.”
Elaine O’Donnell, who recently joined as the firm’s non-executive chair, added: “Considering that home-use beauty technology is a fast-growing category in the beauty sector, a float on the London Stock Exchange will facilitate the group’s ambition to capitalise on the significant opportunities ahead.”
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