Bridgepoint is talking to investment banks about a possible initial public offering of Wiggle, the UK-based online retailer of cycling, swimming and running gear, according to a report by Sky News.
Citing anonymous sources, Sky News reported that Bridgepoint had approached Nomura and Numis Securities about a possible IPO of the global retailer. The report noted that the talks were very preliminary but noted that several other UK-based e-commerce companies had gone public this year.
Wiggle’s prior owner, the investment firm ISIS, had considered taking the retailer public in 2011, but instead sold the company to Bridgepoint. In 2013, the company had over 1,000,000 ‘live’ customers and over 1.9 million shopping visits to its websites per week with 60 percent of its sales to international markets, according to Bridgepoint’s annual report.
