Domestic & General eyes £1.5bn return to stock market - report

The UK’s leading specialist warranty provider Domestic & General is planning a return to the London stock market over a decade after delisting, according to reports.

The company’s owners, CVC Capital Partners, are understood to have appointed Rothschild to advise it on an initial public offering (IPO) aimed for 2019, Sky News reported on Tuesday.

An IPO is expected to value Domestic & General at £1.5bn.

The potential for an IPO was highlighted in accounts recently filed by D&C’s parent company Galaxy Finco, which reported a 6.5% rise in group revenue to £202m for the quarter to June.

Sky News’ report also suggests that the sale of the company is also a possibility.

D&C was taken private in 2007 by private equity firm Advent International in a £524m deal, before being sold six years later to CVC for £750m.

The company, which was founded in 1912 and initially insured livestock, insures 24m household goods and appliances such as televisions, boilers, washing machines, cameras and virtual reality headsets for 16.4m customers in 14 different countries.

Assisted by relationships with companies such as Argos and Sky, the company has a market-leading position in specialist warranties.