Bridgepoint-backed Fat Face announces plans for £110m IPO

The company will use some of the proceeds to pay off debt and banking expenses, while Bridgepoint will also divest part of its stake through the offering. Following the flotation Fat Face will have net debt of £60m.

According to unquote" data, Bridgepoint acquired the company in a £360m secondary buyout from Advent International in March 2007.

The company has seen its revenues grow from £152.7m in 2011 to £178.8m two years later. In the same period its adjusted EBITDA figure grew from £24.8m to £31.2m.

In the 2014 financial year to date, the company has seen its turnover increase 12.4% compared with the same 35 week period in the previous year.

As part of the IPO process, the company has hired Darren Shapland, Deborah Baker and Maria Kyriacou as non-executive directors.

Formed in 1988 by Jules Leaver and Tim Slade, Fat Face operates 208 stores and an online presence.

Canaccord Genuity will be acting as lead manager on the flotation.

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