Gymshark owners mull IPO, say reports
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The founder of Gymshark, Ben Francis, along with his private equity backers, are drawing up plans to float the company, reports suggest.
Just a year after the Solihull firm was valued at £1bn, Gymshark has been in initial discussions with investors and banks about an IPO, according to Sky News.
Francis formed the company almost a decade ago – it now has customers in more than 130 countries and has been a huge hit across social media with its range of leisurewear and acessories.
Sky News says the company is most likely to float on the London Stock Exchange.
Although Francis sold a 21% stake in Gymshark to private equity firm General Atlantic last August, he retains a controlling stake in the firm.
A Gymshark spokesperson told Sky News: “We regularly speak to financial institutions to ensure we are connected to the business world and we continue to learn.
“Any recent conversations we have had have been about introducing these organisations to Gymshark and our journey so far.”
A spokesman for General Atlantic added: “We are working with Ben and the team to build Gymshark into the global leader we know it can be.”