UK Private Equity Exits Weekly Summary: Buyouts & IPOs 21-25 Oct 2025

UK IPO News This Week

Recent IPO Activity (Week Ending 25 October 2025)

Major IPO Developments

Shawbrook Group announced its price range on 21 October, setting shares at 350-390 pence, targeting a market capitalisation of £1.8bn-£2bn. The specialist lender, backed by BC Partners and Pollen Street Capital, is raising £50 million in new capital with admission expected 4 November 2025. Strong institutional demand reported across the offer period, making this potentially London's largest IPO of 2025.

Princes Group confirmed its price range on 21 October at 475-590 pence per share, targeting a valuation of £1.16bn-£1.24bn. The grocery supplier plans to raise £400 million to fund expansion, with the retail offer launching 26 October. The company, with £2.1bn annual turnover, represents another major boost to London's Q4 pipeline.

Market Sentiment & Pipeline

• Two major IPOs advancing through final pricing and retail offer stages

• Combined potential market capitalisation exceeding £3bn demonstrates renewed confidence

• Q4 pipeline delivering on earlier optimism with concrete progress toward admission

• Both offerings attracting strong institutional and retail investor interest

• London capital markets showing sustained momentum heading into year-end

Upcoming IPO Pipeline

Q4 pipeline converting optimism into execution with two major flotations advancing toward November admissions. Market conditions remain supportive with institutional appetite strong across both financial services and consumer sectors. 2026 pipeline continuing to build, signalling confidence firmly established in London capital markets.

UK Private Equity Buyouts This Week

Major Transactions

Supreme PLC acquired SlimFast's UK and European operations from Glanbia PLC for £20.1 million (including £9 million deferred consideration) on 21 October. The weight-management brand, generating £25.5 million revenue with £9.7 million adjusted gross profit, joins Supreme's Drinks & Wellness division alongside Typhoo Tea and Clearly Drinks. Transaction represents opportunistic acquisition of recognisable consumer brand for operational integration and direct-to-consumer revitalisation.

Marex Group plc agreed to acquire Geneva-based Valcourt SA, a fixed-income market-maker serving approximately 700 institutional clients across banks, wealth managers, and asset managers. Subject to regulatory approval, the acquisition expands Marex's capabilities in high-yield, subordinated, and sustainable debt markets while deepening continental European presence.

Redcentric plc announced sale of its entire data-centre portfolio to Stellanor Datacenters Group Limited (backed by DWS Group funds) for up to £127 million on 22 October. The portfolio comprises eight UK data centres with 41 megawatts combined capacity across London, Cambridge, and Yorkshire. Strategic divestment enables debt reduction and refocus on core managed-services business.

Trustmarque Group and Ultima Business Solutions signed definitive merger agreement on 23 October. The combined entity will generate approximately £1 billion gross invoiced income, employ over 1,000 people, and serve public and private sectors with integrated Microsoft, Cisco, and IBM capabilities. Merger reflects accelerating consolidation in UK technology-services market where scale and integrated capability drive competitiveness.

London Stock Exchange Group confirmed sale of 20% stake in Post Trade Solutions division to consortium of 11 global banks for £170 million, valuing the business at £850 million. Transaction includes revenue-sharing adjustment for SwapClear clearing service, reducing banks' profit participation from 30% to 15% in 2026 and 10% from 2027. Deal represents strategic monetisation while deepening institutional partnership alignment.

Secondary Market Activity

• Deal flow concentrated in strategic repositioning and capability enhancement

• Technology services sector showing strong consolidation momentum driven by private equity backing

• Infrastructure assets attracting institutional capital despite broader market caution

• Financial services and market infrastructure transactions focused on partnership models

• Consumer goods M&A targeting brand rejuvenation through operational efficiency

AIM Market Activity (21-25 October 2025)

Consistent admission and trading activity maintained through the week. Mid-cap sectors showing resilience with steady volumes. Market tone reflecting broader Q4 stability patterns.

Market Intelligence Summary

Total UK PE Activity 2025: Strong Q4 momentum with strategic transactions driving value

Weekly Volume: Robust deal flow across consumer, technology, infrastructure, and financial services sectors

Market Trend: Precision-focused M&A emphasising strategic positioning over volume

LSE Performance: Major IPO progress with two significant flotations advancing toward November admissions

Complete Deal Flow Context

The fourth week of October marked a pivotal moment for UK capital markets, with two major IPOs progressing from intention to pricing and retail offers within days. Shawbrook and Princes Group collectively targeting over £3bn in market capitalisation demonstrates that London's Q4 pipeline is converting optimism into execution. Strong institutional demand across both offerings signals genuine confidence returning to UK equity markets.

Private equity and M&A activity reflected a market characterised by strategic precision rather than opportunistic volume. Supreme's acquisition of SlimFast exemplifies mid-market consumer consolidation focused on brand rejuvenation. The Trustmarque-Ultima merger represents accelerating technology-services consolidation where scale and integrated capability increasingly dictate competitiveness. Redcentric's £127 million data-centre divestment highlights continued institutional appetite for UK infrastructure assets while enabling strategic refocus.

Financial services transactions demonstrated sophistication in structure and partnership. LSEG's Post Trade Solutions stake sale balances monetisation with long-term institutional alignment, while Marex's Valcourt acquisition expands continental European capabilities in specialist fixed-income markets.

Key Insight: This week delivered tangible evidence that UK capital markets confidence is translating into execution. With two major IPOs advancing toward November admissions, strategic M&A spanning consumer goods, technology services, infrastructure, and financial markets, and sustained institutional appetite, London is demonstrating resilience and momentum. The market is being reshaped not through headline-grabbing mega-deals but through targeted, purposeful transactions designed to strengthen balance sheets, enhance capabilities, and position businesses for sustained growth. Q4 is proving to be a period of strategic transformation with global reach but distinctly UK execution.