UK - Bridgepoint considers IPO for Pets At Home

It is reported that the firm has been in talks with NM Rothschild, Goldman Sachs and JPMorgan Cazenove in recent weeks to discuss exit possibilities, which include an IPO or a private sale.

Bridegpoint had been looking to exit the investment back in 2007, but abandoned plans due to the downturn in the markets.

The company's turnover has risen 14% to £404m, while its pre-tax profits stand at £40m, an increase of alomst a third on the previous year. The business' EBITDA is £70m.

In 2005, Bridepoint acquired Pets At Home for £230m. Debt in the company has been refinanced four times in the last five years, yielding £120m for investors.

Talks are still in preliminary stages, as Bridgepoint has yet to appoint an underwriter.

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