The founders of an ethically-minded ski clothing brand headquartered in Manchester have said they would consider selling up or welcoming private equity investment "when the time is right".
The long-term target for Planks founders Jim Adlington and Hugh Clow has been revealed in discussions with potential investors on its crowd funding page.
The company has so far raised more than £760,000 through over 340 investors with just under a month still to run on its campaign.
Before the pandemic struck, the business enjoyed three consecutive years of c.40% year-on-year growth, with sales reaching £1.85m in its most recent financial year.
E-commerce sales grew 55% in that period while during its current year, revenue stands at £1.03m to date and EBITDA at £508,000.
The brand is stocked by the likes of ASOS, Ellis Brigham in the UK, Torpedo7 in New Zealand and EVO in the USA.
Mr Clow said: "Regarding exit, Jim and I are committed to continuing to build the brand for the long term and see an 'exit' in the next 3-5 years as a liquidity opportunity for investors and for us to de-risk, rather than full exit.
"With the board, team and product we are building, we have never been more excited about the brand’s prospects and love what we do.
"We would consider a trade sale or PE investment the most likely, when the time is right.
"With Gerald Dawson as CFO, having helped grow and exit his last 4 businesses, we are well advised and supported."
