Beauty Tech Group has wrapped up its IPO funding round, securing a £300m valuation as it embarks on the next chapter of growth in the at-home beauty devices market.
Beauty Tech Group shares were priced at 271p per share for its IPO, with a total offer of £106.5 million comprising freshly issued shares and the sale of existing shares by current shareholders.
The company has raised £29 million through the issue of newly issued shares to ensure it is debt-free and has ample working capital to pursue its growth objectives. Existing shareholders will receive over £77m.
The company was well received by the market with shares trading at 282p at the time of writing.
Beauty Tech Group is targeting rapid growth in at-home beauty device market, which is estimated to be worth between £9 billion to £12 billion globally in 2024. The UK market is thought to be around £1.6 billion – £1.8 billion.
At-home beauty devices utilise technologies such as Radio Frequency, Laser Therapy, and LED Lights to enable users to undergo beauty treatments from the comfort of their own homes and save money on sometimes expensive treatments.
The group generated £101 million in revenue in 2024 and reported a profit of £1.7 million. Profits, needless to say, will need to accelerate quickly to justify the £300m price tag.
“I am incredibly proud of everything The Beauty Tech Group has achieved since we launched CurrentBody in 2009,” said Laurence Newman, Founder and CEO of The Beauty Tech Group.
“From establishing ourselves as a global leader in the fast growing at-home beauty technology market to successfully completing this milestone listing on the London Stock Exchange, the Group continues to go from strength to strength.
“As we enter the next stage of our growth journey, this IPO provides the perfect platform to increase awareness of our three distinct, premium brands and take the Group to the next level, while delivering sustained and profitable growth. The continued momentum within the business and strong support from investors during our roadshow, gives us the confidence and financial firepower to fully capitalise on the significant opportunities that lie before us.
“Most importantly, I would like to thank everyone at The Beauty Tech Group. The business would not be where it is today without their dedication and hard work and I am excited to embark on this next chapter together.”