Arbor Advises TopBuild (NYSE: BLD) on its initial public offering (IPO) as a result of the spinoff from our client, Masco Corporation (NYSE: MAS)
Arbor Advisory Group served as the IPO advisor for TopBuild, the leading installer and distributor of insulation products to the United States construction industry.
Arbor’s team worked closely with the parent company and the lead bankers to ensure a successful transition for TopBuild to become an independent public company. Most importantly, we focused a significant amount of effort on ensuring that Masco holders would also retain shares of TopBuild after the spinoff.
The market capitalization gap between the two companies created risk of Masco investors not retaining TopBuild’s stock post spin. A comprehensive targeting plan was put in place to identify the shares at risk and potential new holders. Arbor implemented a strategy to meet with these key investors resulting in the majority of holders retaining the shares and creating stability in the Company’s valuation.
Subsequent to the spin-off, Arbor managed TopBuild’s Investor Relations function prior to the hiring of a senior Investor Relations officer.