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Nioxin
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NYSE: WELA filing puts KKR-backed Wella’s $2.29bn debt under investor scrutiny
Wella files for a US IPO with $2.94bn revenue and $522m adjusted EBITDA, but $2.29bn of debt will shape how investors value the beauty group at listing.
Wella’s IPO looks like a beauty growth story until the $2.29bn balance-sheet number enters the picture
Wella Company has filed for a New York Stock Exchange IPO after returning to profit and lifting adjusted EBITDA above $520 million. The owner of Wella Professionals, OPI, Clairol and ghd has delivered 22 consecutive quarters of constant-currency growth, but $2.29 billion of debt means the eventual valuation will depend as much on deleveraging as brand strength.