LDC portfolio company Fever-Tree announces commencement of dealings on AIM

Corporate News

LDC portfolio company Fever-Tree announces commencement of dealings on AIM

The IPO enables the company to further boost international expansion and build on its market position as an established premium brand

LDC is pleased to confirm that its portfolio company, Fever-Tree, the world’s leading supplier of premium carbonated mixers for spirits, has today commenced dealings on AIM following the successful pricing of the company’s IPO earlier this week.

Fever-Tree’s £154.4million listing on London’s AIM market has resulted in 60.4% of the company being publicly traded and will raise gross proceeds of approximately £93.3million.

LDC, which took a stake in Fever-Tree in March 2013, will retain a 10.4% holding following the IPO, with Directors and senior management of Fever-Tree retaining approximately 25.2% of the issued share capital.

Since its launch in 2005, Fever-Tree has established itself as the world’s leading premium mixers brand, recording average annual revenue growth of 54% (2009-13).

Already available in over 50 countries worldwide, Fever-Tree has vastly expanded operations outside the UK and 70% of Fever-Tree’s revenues are now derived from exports. 

Fever-Tree has also further enhanced its product offerings with the  launch of other mixer  drinks, including Elderflower Tonic Water, Sicilian lemonade etc. these products are available to buy in leading supermarkets across the UK, including:  Sainsbury’s, Tesco, and Waitrose among others.

In recent years, the business has built strong relationships with global spirits companies such as Bacardi, Diageo, and Pernod Ricard and the company’s products are now served in seven of the world’s top 10 restaurants and many of the leading bars and hotels, such as the Beverly Wilshire, Morocco’s Mamounian and Dubai’s Burj Al Arab.

Fever-Tree’s initial public offering will enable the company to further accelerate its geographic expansion, build on its position as an established premium brand and further capitalise on the multibillion pound global spirit and mixer market.

Tim Warrillow, CEO of Fever-Tree, commented:“Since the successful launch of the brand in 2005, Fever-Tree has achieved rapid growth reflecting the strong brand, clearly differentiated products and first mover advantage in the premium mixer market. We are delighted to have secured a high quality investor base which recognises the Company’s exciting growth opportunities and we look forward to building on our market-leading position as a quoted company.”

Article Footnotes

Notes to Editors

  1. LDC is the private equity arm of Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority.  
  2. LDC backs ambitious management teams from UK-based medium sized companies seeking up to £100m of investment to fund management buyouts or development capital transactions.
  3. LDC invests in a broad range of sectors and has particular experience in Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure, Support Services, Construction & Property and Financial Services.
  4. LDC has a UK regional network with locations in Aberdeen, Birmingham, Bristol, Cardiff, Edinburgh, Glasgow, Leeds, Newcastle, London, Manchester, Nottingham and Reading.  

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