The company, owned by private equity firm TA Associates, sells excess stock for over 250 brands such as Adidas and Diesel at discounts of up to 75 per cent.
It hopes to raise £12.5m when it floats on Aim to help pay down debt and fund its expansion into new markets outside of the UK.
The group has already launched local language websites in Ireland, Germany, France, Austria, the Netherlands and Poland. It wants to build new sites for the 18 other countries is delivers to.
TA Associates and management will also sell down their holdings, leaving the company with a free float of at least 50 per cent.
“This listing represents an exciting stage in our development,” chief executive Jonathan Brown said.
“We are well positioned to benefit from the trends towards online retail and have a clear strategy to develop our UK and to expand our European businesses.”
Earnings rose 21 per cent last year to £10.5m on £119m of turnover.
BEHIND THE DEAL
INVESTEC | DAVID FLIN
1 Flin started his broking career with Dresdner Kleinwort in 2000, working in the mid-market with a host of listed companies.
3 Flin, an economics graduate from University College London, is an avid Tottenham Hotspur fan. When Spurs aren’t playing, he can be found on the golf course.
MandM Direct’s nominated adviser and joint bookrunner was Canaccord Genuity, with a team including managing director Bruce Garrow, director William Bain and associate Joe Weaving. Investec’s corporate broking associate director Carlton Nelson and associate director Symmie Swil also worked alongside Flin.