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CD&R-backed discount chain B&M eyes £75m through London float

22 May 2014

discount_lrgPrivate equity-backed UK discount retailer B&M is hoping to raise £75m by floating on the London Stock Exchange today.

The company has been eyeing a valuation of more than £2bn through the listing, which is designed to help it expand through Europe.

Clayton, Dubilier & Rice bought a stake in the chain, which sells outdoor furniture, electricals, homeware and consumer items, in 2012 in a deal thought to value the company at £965m.

Advent, Blackstone, BC Partners, KKR, Cinven, Apax Partners and CVC were all linked with a deal for the company at the time.

Reuters reported last month that the company made gross profits of £88.3m in 2012, adding that a £2bn valuation would be at about 23 times its EBITDA.

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