 |
Teneo Blue Rubicon handled the Oct. 3 public offering of Aston Martin Lagonda Global Holdings, parent of the legendary British sports car brand.
Priced at $25 per-share on the London exchange the offering had an initial market cap in excess of $5.5B.
Shares of James Bond’s favorite car company though hit a speed bump on their first day of trading, closing down nearly five percent.
Bloomberg reported investors were wary of Aston Martin’s hefty valuation that put it into the same lane as the more profitable Italian competitor Ferrari.
Aston Martin, which reported in 2017 its first profit in seven years, posted a 14 percent rise in first-half 2018 revenues to $585M and $910K profit.
CEO Andy Palmer, a Nissan Motor alum, announced in June an aggressive growth plan that is highlighted by the opening of a second manufacturing plant in 2019 to produce a new SUV.
He expects employment to jump from 2,700 to about 5,000 in 2022.
Simon Sproule, who made his mark as a top communications executive at Nissan Motor and the Renault-Nissan Alliance, joined Aston Martin in 2014 as chief marketing officer after a six-month stint as VP-communications at Elon Musk's Tesla.
Joele Frank handles C.H. Robinson Worldwide as the freight transportation company acquires RXO Inc. in a stock and cash transaction pegged at $5.8B to create a company with an enterprise value of more than $25B.
Brunswick Group handles France’s Schneider Electric as it acquires Boston’s PTC, maker of engineering software, for $22.6B cash.
Burson Buchanan handles AAR Corp as the supplier of parts and services to the aviation market acquires a 65 percent stake in MRO Holdings.
The financial services industry thinks it needs more communications, when the real issue is credibility—and that requires entirely different solutions.
Starting out with the goal of creating a “different model” for communications, Tier One’s leaders discuss creating value for firms in financial/fintech, professional services and other high-tech industries.
