Allen & Overy (A&O) is advising new client Ibstock, alongside US firms Ropes & Gray and Latham & Watkins as it floats on the London Stock Exchange.
The plan for a £1bn stock market listing comes less than a year after one of the UK’s largest and oldest brick makers was privatised by private equity firm Bain for £414m. The listing is expected to raise around £100m, which will be used to refinancing the takeover debt.
A&O is acting for Ibstock with a team jointly led by corporate partners James Roe and London-based US securities partner Adam Wells. A&O said it is ‘currently advising on a string of IPOs, which reflects the growing strength of its ECM franchise’. The firm also advised Worldpay on its prospective IPO and its admission to float, with a team led by corporate partner Duncan Bellamy alongside corporate partner David Broadley, and US securities partner Jeff Hendrickson.
Latham & Watkins is also working on the IPO advising underwriters JP Morgan and UBS with London-based partners Richard Brown, James Inness and David Boles.
In December last year, Ropes’ represented Bain Capital on the acquisition of building materials company CRH’s clay and concrete businesses in the UK and US, led by London private equity partner Bill Mone.
jaishree.kalia@legalease.co.uk