July 8, 2021 | Deals

GCA Altium advises CMO Group on its AIM IPO

GCA Altium acted as independent financial advisor on the GBP 95m IPO of CMO Group plc, the UK’s largest online-only retailer of building materials.

CMO Group is disrupting a GBP 27 billion predominantly offline market with a digital first proposition and market leading choice of over 75,000 products. The Group’s unique digital hybrid model combines high quality service and technical expertise tailored to category and customer needs. This business model bridges the gap between traditional bricks and mortar retailers and pureplay digital retailing to service the next generation of digital natives.

The business has grown substantially since it was founded in 2008, both organically and through acquisitions. CMO’s first mover advantage and digital platform will enable the business to continue to capture market share in an underpenetrated market as customers increasingly move online. This platform will support targeted category expansion and a multi-channel marketing strategy to drive organic revenue growth and margin enhancement. Organic growth will be supported through further selective acquisitions.

Dean Murray, CEO of CMO Group plc, commented: “The team at GCA Altium have provided CMO with invaluable advice and support, navigating management and shareholders through a detailed process to successfully list on AIM. Their in-depth knowledge of our business and consumer sector expertise ensured we were optimally positioned when bringing CMO to market.”

Sam Fuller, Managing Director and Co-Head of UK Consumer at GCA Altium, said: “GCA Altium has a long-standing relationship with CMO and its shareholders, having sold it to KCP in 2017, and assisted in all aspects of the transaction as independent financial advisor. GCA Altium’s consumer sector expertise, coupled with our independent equity capital market capabilities, enabled a smooth and successful process in bringing CMO to market whilst simultaneously sounding out strategic and private equity options.”

This transaction marks the latest IPO GCA Altium has advised on, following the record-breaking AIM IPO of Victorian Plumbing and strategically advising Bike24 ahead of their recent IPO.

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