Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

Suit supplier Bagir Group plans London listing as it looks to expand

Marks & Spencer and Arcadia tailoring supplier Bagir Group is looking to raise £21m when it floats on the London Stock Exchange in April.

Bagir will launch on the Alternative Investment Market (Aim) on April 14 and will use the money to reduce its debt and grow its international business.

The business, which entered the Australian market last year, will focus its expansion on this territory along with the US and UK.

Bagir is being advised by N+1 Singer. An investor roadshow started last week for the float, which is expected to result in between 40% to 60% of the business being sold.

The price of the shares will be revealed on April 7 with a prospectus expected to be published the following week.

The group, which was founded in 1961, licences brands including Simon Carter, Austin Reed’s AR Red and Jay Godfrey. It also supplies suits to Burton, John Lewis, TK Maxx and House of Fraser. Bagir claims it has a 40% share of the formalwear business at both Arcadia and M&S.

The majority of Bagir is owned by Israeli private equity firm FIMI and has six offices across the world including one in Kentish Town, north London. Bagir posted a 15% rise in revenues to $99.5m (£59.8m) as EBITDA climbed 83.2% to $6.1m (£3.7m) in the year to December 31, 2013.

Bagir is the latest fashion business to list in London this year, following etailer, which floated in March.

Bagir did not respond to requests for comment.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.