Focusrite has announced its intention to proceed with an initial public offering and placing of existing ordinary shares in the group and to apply for the admission of its ordinary shares to trading on AIM, a market of the London Stock Exchange.
The global music and audio products group maintains two established brands – Focusrite and Novation – with a distribution network of resellers and third-party distributors covering approximately 160 territories across the world. It has enjoyed a consistent track record of growth and profitability; in the FY 2014, the Group achieved revenues of £41 million and EBITDA of £8.2 million as well as a reportedly strong pipeline of new products, with approximately 40 products due to be launched by September 2016.
Phil Dudderidge, executive chairman of Focusrite, said of this move: “We have built a strong position in our global markets over the last 25 years. The quality and breadth of our products, brand strength, experience of management, and continued ability to successfully exploit market trends has enabled us to deliver consistent organic growth and profitability.”
“An IPO is the next logical step in the group’s growth strategy as we seek to grow our market share further. I look forward to continuing my journey with Focusrite, working with the board, management and shareholders.”