Alchemy-backed Revolution Bars to list in March

Alhough no details have been released regarding pricing or the number of shares, the listing will solely comprise existing shares, with Alchemy making a partial exit.

The London-headquartered company, which currently has 58 bars across the UK, generated a turnover of £108.7m and adjusted EBITDA of £13.2m in the twelve months to June 2014.

In connection to the listing, Revolution has appointed former Arsenal Football Club managing director Keith Edelman as non-executive chairman and former Greene King finance director Michael Shallow as non-executive director.

The announcement comes a month after Alchemy announced having secured a majority stake in Incisive Media, the publisher of B2B titles including unquote", via a debt-for-equity swap.

Alchemy invested £22.7m in a take-private deal for Revolution, at the time trading as Inventive Leisure, in January 2006. Around £21.5m of this came in the form of loan notes, with the remainder funding the acquisition of a 68% stake. Bank of Scotland acted as lead debt arranger on the original deal.

The IPO is expected to take place in March with Numis Securities acting as sole sponsor, financial adviser, bookrunner and underwriter.

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• Topics
• Exits
• UK / Ireland
• Consumer
• United Kingdom
• Alchemy Partners LLP