LONDON: Project Glow Topco Limited, the holding company of The Beauty Tech Group Limited, said Monday it is considering an initial public offering and plans to publish a registration document later today.
The company is evaluating a potential listing of its ordinary shares on the equity shares (commercial companies) category of the Financial Conduct Authority’s official list and to begin trading on the main market of the London Stock Exchange.
The Beauty Tech Group, headquartered in Cheshire, England, is a global leader in the at-home beauty technology market, which is valued between £9 billion and £12 billion. Its portfolio includes three premium brands—CurrentBody Skin, ZIIP Beauty and Tria Laser—offering devices that use LED light, radio frequency, microcurrent and laser therapies, traditionally found in professional aesthetic clinics.
Founded in 2009 as CurrentBody.com Ltd by CEO Laurence Newman and CTO Andrew Showman, the Group now sells exclusively own-brand products through direct-to-consumer e-commerce channels and selected international retailers. Its products are available in over 90 countries.
In the financial year ended Dec. 31, 2024, the Group reported revenue of £101.1 million and adjusted EBITDA of £22.9 million. Between FY22 and FY24, own-brand revenue and adjusted EBITDA grew at compound annual growth rates of 73.6% and 92.9%, respectively.
“The IPO will provide access to capital, raise brand awareness and incentivize our team as we scale,” Newman said. “We’ve built a trusted global platform and are excited to enter this next chapter.”
Elaine O’Donnell, Independent Non-Executive Chair, added that the listing would support the Group’s ambition to expand distribution and continue delivering next-generation beauty technology through research and development.
The Group’s largest markets by sales—U.S., U.K. and Germany—grew by 13% to 14% between 2019 and 2024, outpacing the broader beauty sector, according to OC&C Strategy Consultants LLP.