Apax Partners’ premium-shoe retailer, Cole Haan, is preparing for an IPO, a spokesperson for the company told CNBC.
The spokesperson declined to comment on the timing.
Another source with knowledge of the situation told Bloomberg that the company has already begun talking with investment banks.
The London private-equity firm’s portfolio company showed robust sales and profit growth in its latest quarter. According to Bloomberg, the company grew revenue 14% to $687 million in the fiscal year that ended June 1, while adjusted EBITDA was up 56% to $95.3 million.
“Based on the momentum we have generated in the business and the opportunities we believe are before Cole Haan, we have determined that now is the time to prepare for an initial public offering of the company’s shares.”
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