Roof tile maker Marley to float on stock market
The funds raised will be used to fund strategic plans for organic growth and acquisitions on the £150m turnover.
The Staffordshire-based roofing specialist was bought two years ago by private equity firm Inflexion from Belgian materials giant Etex, which has owned the firm since 1999.
Founded in 1924, Marley is the largest tile manufacturer in Great Britain, with an estimated market share of around 21%.
In addition to its main range of clay and concrete roof tiles, it supplies wooden battens, roof accessories and integrated solar panels following the recent acquisition of Viridian Solar.
In addition, Marley has a contracting department in Scotland, which mainly provides roofing and main contracting services.
David Speakman, chief executive of Marley, said: “Our company combines the most comprehensive pitched roof system available and well-invested manufacturing sites across the country that can provide significant additional capacity if required.
“This, combined with some positive market dynamics, gives us the confidence to pursue our growth agenda and we see multiple opportunities for both organic and inorganic expansion.”
He added: “Marley is further distinguished by our long and successful track record in sustainability and a clear roadmap to expand our ESG credentials.
“These credentials are reinforced by plans to expand our solar offering to deliver a range of smart energy solutions to homebuilders, social housing providers and homeowners.
“This means that Marley is well positioned to play an increasingly important role in providing homes that meet the UK’s green agenda.”
Further details of the IPO plans will be released next week.