Roofing firm Marley confirms London float plan
One of the UK’s largest roof tile manufacturers has confirmed plans to float in London at a time of high demand for new homes.
Marley, which was founded in the 1920s in Kent and manufactures products from five factories, expects to start trading in the main market next month. Market sources estimate the move could value the company at around £600 million.
The company, which employs nearly 600 people, is teaming up with Jefferies, Peel Hunt and Panmure Gordon on the float.
Marley’s update comes after it was said last week that it was considering an IPO.
Chief executive David Speakman said: “We are delighted to see significant interest from potential investors in Marley, which gives us the confidence to move forward.”
He added that his business is benefiting from key market drivers, such as a “strong focus on significantly increasing the supply of new homes in the UK and an aging housing stock, much of which now requires re-roofing”.
Speakman said post-float plans include expanding the size of some of the existing factories.