NVT Northern Venture Trust PLC

Portfolio Update - The Beauty Tech Group IPO

Portfolio Update - The Beauty Tech Group IPO

3 October 2025

Northern Venture Trust PLC

The Beauty Tech Group - Initial Public Offering

Northern Venture Trust PLC (“the Company”) is pleased to announce that its largest unquoted holding, The Beauty Tech Group (formerly Project Glow TopCo Limited), has today successfully completed its Initial Public Offering (“IPO”) on the London Stock Exchange.

The Beauty Tech Group (“TBTG”) operates in the global at-home beauty devices market, a fast growing area of the global beauty and personal care market. The Company first invested in TBTG in 2018, when the business generated annual revenues of less than £1 million and was loss-making. During the period of investment, TBTG has experienced significant growth and for the year ended 31 December 2024, reported revenues of £101 million and adjusted EBITDA of £23 million.

The IPO values TBTG at approximately £300 million (market capitalisation at the placing price), representing an uplift on the Company’s most recently published valuation of its investment.

As at 30 June 2025, the Company’s holding in TBTG was valued at £7.3 million, equivalent to 5.4% of net asset value. As part of the IPO, the Company has realised £2.6 million of its investment and based on the IPO valuation, the Company’s holding is now valued at approximately £6.1 million, equivalent to 4.4% of net asset value. The IPO price represents an uplift of approximately 0.6 pence per share compared to the valuation included in the most recently published net asset value as at 30 June 2025.

The proceeds from the IPO will provide TBTG with additional capital to accelerate its growth strategy. The Board welcomes this milestone for the Group and looks forward to its continued success as a listed company.

The impact of the IPO on the Company’s unaudited net asset value per share will be reflected in the next published NAV announcement.

Enquiries:

Sarah Williams / James Sly, Mercia Fund Management Limited – 0330 223 1430

Website:        /vcts

The contents of the Mercia Asset Management PLC website and the contents of any website accessible from hyperlinks on the Mercia Asset Management PLC website (or any other website), are not incorporated into, nor forms part of, this announcement.



EN
03/10/2025

Underlying

NVTNorthern Venture Trust PLC

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Northern Venture Trust PLC

 PRESS RELEASE
Free
NVT Northern Ventur...

Proposed increase in size of offer for subscription and re-opening of ...

Proposed increase in size of offer for subscription and re-opening of offer for subscription to further applications 8 DECEMBER 2025 NORTHERN VENTURE TRUST PLC PROPOSED INCREASE IN SIZE OF OFFER FOR SUBSCRIPTION AND RE-OPENING OF OFFER FOR SUBSCRIPTION TO FURTHER APPLICATIONS Further to the announcement made by Northern Venture Trust PLC (“the Company”) on 17 September 2025 in conjunction with Northern 2 VCT PLC and Northern 3 VCT PLC, in respect of the offers of new ordinary shares for subscription in the 2025/26 tax year, the Company is pleased to announce that it intends, due to s...

12h / 11m 1 EN
 PRESS RELEASE
Free
NVT Northern Ventur...

Transaction in Own Shares

Transaction in Own Shares 8 DECEMBER 2025 NORTHERN VENTURE TRUST PLC TRANSACTION IN OWN SHARES  Northern Venture Trust PLC (“the Company”) announces that on 5 December 2025 it purchased for cancellation under an existing authority granted by shareholders 1,975,484 ordinary shares of 25p each in the market at a price of 57.67p per share, representing approximately 0.82% of the Company's issued ordinary share capital. There remain 240,269,858 ordinary shares in issue.  In conformity with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (the “DTRs”), the Company...

16h / 11m 1 EN
 PRESS RELEASE
Free
NVT Northern Ventur...

Offer Update

Offer Update 2 DECEMBER 2025 NORTHERN VENTURE TRUST PLC OFFER FOR SUBSCRIPTION UPDATE Further to the announcement made by Northern Venture Trust PLC (“the Company”) on 24 September 2025 in conjunction with Northern 2 VCT PLC and Northern 3 VCT PLC, in respect of the offers of new ordinary shares for subscription in the 2025/26 tax year, the Company announces that its offer of new ordinary shares to raise a total of up to £20 million is now fully subscribed and no further applications will be accepted. The offer by Northern 2 VCT PLC to raise a total of up to £10 million closed to app...

December 2, 2025 1 EN
 PRESS RELEASE
Free
NVT Northern Ventur...

Total Voting Rights

Total Voting Rights 1 DECEMBER 2025 NORTHERN VENTURE TRUST PLC TOTAL VOTING RIGHTS In conformity with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (the “DTRs”), Northern Venture Trust PLC (“the Company”) notifies the market that the capital of the Company as at 1 December 2025 consisted of 242,245,342 ordinary shares with a nominal value of 25p each. All the ordinary shares have voting rights. The Company does not hold any ordinary shares in treasury. The total number of voting rights in the Company is therefore 242,245,342 (“the Figure”). The Figure may ...

December 1, 2025 1 EN
 PRESS RELEASE
Free
NVT Northern Ventur...

Director/PDMR Dealings

Director/PDMR Dealings 25 NOVEMBER 2025 NORTHERN VENTURE TRUST PLC DIRECTOR/PDMR DEALINGS Northern Venture Trust PLC (“the Company”) has been notified that in respect of the allotment of new ordinary shares pursuant to the Prospectus dated 17 September 2025, the following PDMR acquired ordinary shares of 25 pence each in the Company. PDMRDate acquiredNo. of shares acquiredPurchase priceper share (£)Total currentshareholdingDeborah Hudson25 November 202524,1860.6202178,887 These notifications are made in accordance with the Market Abuse Regulations. 1Details of the person discharging ma...

November 25, 2025 1 EN

ResearchPool Subscriptions

Get the most out of your insights

Get in touch