Unquote

LDC’s Fever Tree raises £93m in IPO

  • Ellie Pullen
  • LinkedIn  
  • Google plus  

LDC-backed Fever Tree, a tonic water and mixers brand, has raised £93.3m in its IPO on the London Stock Exchange’s AIM, giving it a market cap of £154.4m.

The listing resulted in a free-float of 60.4%. The company sold its shares at a price of 134 pence each.

LDC has retained a 10.4% shareholding in the company following the flotation. The firm acquired a 25% stake in Fever Tree in March last year for £12m, valuing the company at £48m.

Fever Tree's directors and senior management have retained a 25.2% stake in the business.

Together, the selling shareholders - LDC and certain members of management - raised £89.3m from the flotation, with the remaining £4m being raised for the company.

Investec Bank acted as sole bookrunner, broker and nominated advisor for the offering. Fever Tree listed on the AIM on Friday 7 November. The company is trading under the ticker "FEVR".

Company
Founded in 2005 and headquartered in London, Fever Tree is a producer of tonic water and mixers for drinks. Its product range includes Indian tonic water, ginger beer and Sicilian lemonade.

The company generated a £6.7m EBITDA on revenues of £23.3m in 2013.

People
Tim Warrillow is the CEO of Fever Tree. Edward Hayter is an investment director at LDC.

  • LinkedIn  
  • Google plus  

More on UK / Ireland

Latest News