Warpaint London is to float on the AIM market on 30 November with a £62.6m market cap.
The company sells colour cosmetics in the UK and overseas, mainly through its own W7 brand, to about 230-odd high street retailers and independent beauty shops.
The company reports revenue growing from £16.7m in 2013 to £22.3m last year (2015) with roughly 80% from its own branded products. The rest comes from its 'close-out' business, which in plain English means surplus stock sold off at discounted prices.
Warpaint London was originally co-founded by joint CEOs Sam Bazini and Eoin MacLeod in 1992.
In 2002, the W7 brand was created to provide access to over 500 cruelty-free cosmetic products, including nail polish, foundation and lipstick with a special collection for darker skin tones.
The company plans to float 35% of the business, with the founding CEOs retaining a controlling interest between them.
It intends to pay dividends. The balance sheet had £11.4m of net assets as of 30 June 2016 and the business says it is highly cash generative.
