Facilisgroup, Brand Addition Parent Announces Intention To Join UK Stock Exchange
The Pebble Group, the UK-based parent company of business services and technology firm Facilisgroup (PPAI 493664) and British distributor Brand Addition, has announced that it is looking to be listed on the London Stock Exchange and its Alternative Investment Market (AIM) sub-market, with admission expected to take place in early December.
"We are very pleased to announce our intention to float today,” says Christopher Lee, CEO of The Pebble Group. “Our plans to bring The Pebble Group to AIM are founded on a track record of strong organic and acquisitive growth in our Brand Addition business and the diversification and scaling of the group through the acquisition of Facilisgroup in 2018.”
The Pebble Group was formed following the acquisition of Facilisgroup by private equity firm Elysian Capital, LLC in November 2018. Lee says, “These achievements have been delivered by dedicated and talented people across our group under the support of private equity ownership. A successful IPO and admission to AIM would facilitate the exit of our private equity shareholders, Elysian Capital, and the repayment of debt facilities, moving our group on to the next key stage of its journey. With a new capital structure and no debt, The Pebble Group will be best placed to invest more readily in expansion, deliver on its growth strategy and enable its senior managers and employees to participate in the Group's success."
Among the strengths of the business noted by Pebble Group’s directors in the proposed admission for trading are the differentiated market positions of Brand Addition and Facilisgroup. Brand Addition provides promotional products to global brands, while Facilisgroup offers subscription-based services to promotional product distributors in the United States and Canada. It also highlighted a consistent record of growth with a revenue compound annual growth rate (CAGR) of 16 percent, from £74.1 million ($95.8 million) in the year-ending December 31, 2016, to £99.8 million ($129 million) in the year-ending December 31, 2018, based on the aggregated performance of the businesses now comprising Brand Addition and Facilisgroup on a pro-forma basis during the year that Facilisgroup was acquired. Pebble has grown Adjusted EBITDA from £7.6 million ($9.8 million) in the year-ending December 31, 2016 to £13.7 million ($17.7 million) in the year-ending December 31, 2018, a CAGR of 34.3 percent on the same basis.