Lumison, the UK provider of connectivity, hosting and managed IT services, has been acquired by Bridgepoint Development Capital for an undisclosed sum.
Pets at Home, the UK's leading retailer of pet foods and pet products, today announces the appointment of J P Morgan Cazenove as joint sponsor, joint bookrunner and joint global coordinator, to examine the options for a potential IPO of the company in 2010, subject to market conditions. Further appointments will be made in due course.
Matt Davies, Chief Executive of Pets at Home, commented: "Pets at Home has enjoyed fantastic growth over recent years and we believe there remains a significant opportunity to build on the Pets at Home experience and to take it to more pet lovers across the UK. This appointment signals our wish to be prepared should the IPO market begin to look attractive as one of the exit options open to us.
"In the meantime, we will continue to focus on delighting our customers with high quality products, outstanding customer service and great value for money."
Rothschild, as adviser to the company, will continue to advise Pets at Home on all aspects of any exit process.
About Pets at Home:
Pets at Home is the UK's leading specialist retailer of pet food, pet related products and accessories; they also sell fish and small animals. The company was established in 1991 and currently operates from 240 stores, totalling 2.1m sq ft. with 4,200 colleagues.
In addition to the retail outlets, Pets at Home currently operates 53 veterinary surgeries on a joint venture basis under the brand name Companion Care. In the 52 weeks to March 2009 the company achieved turnover of £404.2m and EBITDA of £70m.
Pets at Home was the subject of a Bridgepoint backed buyout in July 2004.
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