Masco Corporation

Masco Corporation

World’s leading manufacturer of branded building products
TopBuild Corporation

TopBuild Corporation

Largest installer of insulation and other third-party products in newly built homes in the United States
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Kevin Allman
Chief Executive Officer, Masco Corporation

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Jerry Volas
Chief Executive Officer, TopBuild Corporation

The
Situation:

In early 2014, an activist purchased a 1.3% stake in Masco Corporation (NYSE: MAS), becoming one of its ten largest investors. The activist pressed for significant changes to improve Masco’s operating efficiency and increase its valuation. In the fall of 2014, Masco’s Board of Directors approved several major strategic initiatives, including significant cost reductions, a $1.2 billion share repurchase program, and the spin-off of one of the company’s major operating units. Masco also made changes to its executive management team and its board of directors.

In mid-2015, Masco successfully completed a tax-fee spin-off TopBuild. The spin-off was achieved through the distribution to Masco shareholders of one share of TopBuild common stock for every nine shares of Masco stock. The spin-off simplified Masco's product portfolio, allowing it to focus more on the growing home-repair and remodeling market.

Our Role:

FOR MASCO: We developed and helped execute the investor communications
strategy to help Masco in its engagement with the activist and to position the resultant strategic initiatives with the investment community.

We also successfully created and executed Masco’s first-ever Investor Day after the TopBuild transaction was completed. We helped execute the IPO of TopBuild Corporation (NYSE:BLD) (Masco’s service business), established TopBuild’s investor relations function, and served as the company’s primary point of contact with the investment community during the twelve months post-IPO.

Services We Provide:
Perception Issue Management Activism Defense Advisory Services IPO Strategy and Execution Leadership Transition Transaction Communications Investor Day Strategy and Execution
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Aximus vid quam nest, arion possequame et as et hil et eaturi custi ipiciur alis sequi nossi unto tendipidem que nobissi dolor maiorescil is eum ut magnate velluptur mintem exceaqui ant exces delitae vent, volor assequia num.

Sam Levenson
Chief Executive Officer, Arbor Advisory Group

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