Dr Martens selects bankers to spearhead London IPO

Permira, the backer of Dr Martens, has selected two bankers to spearhead the London Stock Market listing of the historic British footwear brand, it has been reported.

According to Sky News, Goldman Sachs and Morgan Stanley have been lined up to co-ordinate the float which is planned for 2021.

Permira acquired Dr Martens from Griggs family in 2014 for €380m and its potential float has been rumoured for some months.

The PE house was said to be close to sealing a deal to sell Dr Martens to Carlyle earlier this year but the COVID crisis was said to have put the investment house off the purchase.

Dr Martens has been a strong performer for Permira with sales growth of around 20% to 30% in recent years. In the 12 months to March 2019 it generated sales of £454.4m.

The value the company would command upon its potential float is not yet known.