Fast-moving Forterra steps up pace for initial public offering approaching $400M
- Published: Tuesday, 18 October 2016 12:54
- Written by Concrete News
Sources: CP staff; Forterra Inc., Irving, Texas
Water and wastewater infrastructure-geared Forterra Inc., a recently established entity emanating from Forterra Building Products, details in U.S. Securities & Exchange Commission filings an initial public offering of 18.4 million shares priced in the $19-$21 range. Success in the impending sale would give new investors and principal owner Forterra US Holdings LLC, respectively, 29 percent and 71 percent stakes in a 96-plant operation with annual sales of about $1.6 billion across Drainage Pipe & Precast Products and Water Transmission Pipe & Products segments.