Cycle shop Wiggle candidate for IPO after appointing advisers

 

Cycle shop Wiggle’s private equity owner Bridgepoint is mulling plans to float the company on the London stock market. 

 

The private equity group, which owns Pret a Manger, has been working with Rothschild to explore options for the business, one of which may include a share sale. Nomura and Numis are also said to be involved.

 

News of the exit comes three years after Bridgepoint bought the Portsmouth-based online business for £180m.

 

The potential sale comes amid a renaissance in the cycle retail market, with peers such as bicycle shop Halfords storming to strong results and seeing a rise in their share price. 

 

Wiggle delivered £12.3m of profits last year on revenues of £140.7m. 

 

Bridgepoint has so far failed to join the clamour of private equity firms who have sold their companies on the stock market. 

 

The firm tried to float fashion retailer Fat Face earlier this year but pulled the listing due to “market volatility”.