Dr. Martens Set to Go Public, Announce Cornerstone Investors

Iconic British bootmaker Dr. Martens is expected to begin an initial share sale on Monday that could value it in excess of 3 billion pounds ($4.1 billion), a person with knowledge of the matter said.

The company, which is owned by Permira Holdings, is set to say it’s secured cornerstone investors as it publishes a prospectus for the share sale, according to the person. The Sunday Times reported the start of the sale earlier.

Dr. Martens Said to Weigh Seeking GBP4b Valuation in London IPO

Since paying 380 million euros for the bootmaker in 2014, Permira has increased the brand’s global presence, opening new stores and expanding its e-commerce offering.

Rising equity markets are making IPOs an attractive exit option once again with plans to list in London off to a strong start this year. Investors are piling into U.K. equities, helped by a long-awaited Brexit deal and optimism that the rollout of Covid-19 vaccines will help spur economic growth later in the year.

Dr. Martens has joined online card retailer Moonpig Group Plc and renewable power investment manager Foresight Group, among others, in planning London listings.

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