Sunday, June 26, 2022

Dr Martens confirms IPO plans

Northamptonshire company Dr Martens has confirmed plans for an initial public offering on the London Stock Exchange.

The iconic British brand with over 60 years of heritage sells in excess of 11 million pairs of footwear annually in more than 60 countries with revenues of £672m in the year ended 31 March 2020.

The Company has engaged Goldman Sachs and Morgan Stanley as Joint Global Co-ordinators, and Barclays, HSBC, Merrill Lynch International (BofA Securities) and RBC Europe Limited (RBC Capital Markets) as Joint Bookrunners in the event the Offer proceeds.

Lazard & Co., Limited is acting as Financial Adviser to the Company.

Dr Martens was acquired by IngreLux S.àr.l., a Luxembourg company owned by
funds advised by Permira, in 2014.

Paul Mason, Chairman of Dr. Martens, said: “Today marks an important milestone for Dr. Martens and is testament to the skill and hard work of our management team, as we build the business to match the scale and potential of our brand.

“We have made significant investment in the business over the last few years to strengthen the team, our operations and position ourselves for the next exciting stage of development, as a publicly listed company.

“We’re also committed to strong corporate governance and making sure we always do things the right way. This is clearly illustrated by the strength and diversity of our four Non-Executive Director appointments who bring a wealth of complementary skills and experience to help guide Dr. Martens in this new chapter.

“I am exceptionally proud of where we have come from, but more importantly where we can go in the future in growing the business and creating value for all our stakeholders.”

Kenny Wilson, Chief Executive of Dr. Martens, added: “The announcement of our intention to float reflects the great achievements of the Dr. Martens team and brand over the last seven years. Even more important is the significant global growth potential for Dr. Martens in the future.

“Our iconic brand appeals to a diverse range of consumers around the world who wear our footwear to express their individual style. We have invested massively to ensure that we deliver the best digital and store experiences to connect with our wearers, and through this we are driving our long term, sustainable growth.

“It is the people of Dr. Martens who make the brand and the culture so unique, and I would like to extend a heartfelt thanks to them for their passion and effort in growing our business so significantly and in delivering through the testing times of the pandemic over the last year.

“We have an exciting future ahead of us both as a plc and also as we continue to build and develop the Dr. Martens brand.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.







Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close