A team of advisers have been appointed to British fashion retailer Joules to prepare the company for a £150 million+ IPO.
The company will be joining the stock market around April or May when Tom Joule, the majority stakeholder is likely to receive several million pounds. Mr Joule owns 80% of the business and the other 20% is owned by LDC, the private equity division of Lloyds Banking Group.
From the days of Mr Joule running the company by himself from the age of 23, there are now around 100 stores and products sold in the likes of Debenhams and John Lewis.
Figures have shown that in the last 12 months, revenue has increased 21.6% to £117.1 million, which was enhanced by new store openings and pre-tax profits shot up 35.5% to £5 million.
Managing the float will be stockbrokers Peel Hunt and Liberum.
