The founders of mixer brand Fever-Tree first faced down a rocket launcher and armoury of AK47s from a band of Congolese militia in their pursuit of the perfect tonic water — now they have successfully battled the tough IPO market to see investors back their £154 million flotation.
Fever-Tree is raising £93.3 million by listing on AIM, with all but £4 million boosting the bank balances of founders Charles Rolls and Tim Warrillow and their private equity backers.
From their King’s Road headquarters, Rolls, who had helped to turn around spirits brand Plymouth Gin and sold it to Absolut Vodka, and former ad man Warrillow, above, launched Fever-Tree in 2005.
That dangerous trip to the Congo was to track down the purest-quality quinine, from the bark of the fever tree — giving the founders the idea for their company’s name.
Last March the duo — who featured in the Evening Standard’s Growth Capital entrepreneur column back in 2012 — sold a quarter to the private equity arm of Lloyds Banking Group which valued it at £48 million. Rolls retained a 28.7% stake, and Warillow had 12.7% of the company.
