Duracell distributor targets alternative investment market float

A leading manufacturer and supplier of batteries, lighting, and vaping products will make its stock market debut next month.

Supreme, which counts retailers Asda and Iceland among its customers, announced plans today to join London’s junior market in May as it targets raising £10m for a new stage of growth.

The company’s revenues hit £70.7m last year, and earnings before interest and tax were £7.2m.

Its business is split into three divisions: batteries, vaping, and lighting. It has relationships with household names such as Energizer, Duracell, and Panasonic.

The group supplies ecigarettes, and makes e-liquids for the KiK, 88vape and Trance brands.

Supreme said that it was already well-positioned in a market which now has higher barriers for entry due to new advertising restrictions. The e-liquids are made in a UK factory, which the company believes gives it an edge in the market and makes them the largest producer of e-liquids in the UK by volume.

Read more: Aston Martin to appoint three banks to prepare £4bn IPO

It counts B&M, Poundland and Asda as members of its 3,600-strong customer base.

Chief executive Sandy Chadha said: “Over the last two decades we have established Supreme as a leading manufacturer and distributor of batteries and lighting, and more recently vaping, demonstrating our ability to leverage our extensive distributor and customer relationships to drive growth.

“With a track-record of growing revenues, achieving long-term profitability and strong cash generation, we remain well-placed to build upon this. “We are excited about our potential flotation on AIM, which I believe will provide a platform from which to execute on our growth ambitions and realise the next stage of our development.”

Read more: Deltic ready to party as IPO plans put back on the table