IPO Communications For A Market-Leading Manufacturer
Forterra, the U.K.’s largest manufacturer of masonry products, retained FTI Consulting to advise the Company on its IPO process. Forterra faced numerous challenges as a private equity sponsored company coming to market, coupled with increasing scrutiny and challenging conditions in the U.K. IPO market.
Our Role With Forterra
Following a recent rebranding campaign there was a lack of name recognition and third-party commentary on Forterra, despite the Company being the only producer of the sought after Fletton ‘London’ brick. Additionally, Forterra was constantly and unhelpfully compared to its main peer which had floated several months before. FTI Consulting worked with Forterra to position the Company as a ‘London Listing for London Bricks,’ highlighting the attractive investment case for Forterra at a time when the U.K. housing market was in a growth mode, and emphasizing the Company’s industry-leading EBITDA margins and structural growth drivers.
In an extremely challenging IPO market, Forterra successfully listed on the London Stock Exchange. The Company garnered positive reception from stakeholders, including high-profile coverage across most major national media outlets, as well interest from the sell- and buy-side. In addition to the success of Forterra, the Company’s view on the U.K. housebuilding sector was extensively covered, establishing the Company as a thought leader in the market.
Following the successful listing, Forterra appointed FTI Consulting as its retained financial communications adviser.