Titan America SA Plans $396 Million IPO for February 7th (TTAM)

Titan America SA (TTAM) expects to raise $396 million in an initial public offering (IPO) on Friday, February 7th, IPO Scoop reports. The company plans to issue 24,000,000 shares at a price of $15.00-$18.00 per share.

In the last year, Titan America SA generated $1.6 billion in revenue and $175 million in net income. Titan America SA has a market-cap of $3 billion.

Titan America provided the following description of their company for its IPO: “Titan America is a leading vertically integrated, multi-regional manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States (the “Eastern Seaboard”). (Incorporated in Belgium) We are a leading provider of materials that contribute to lower carbon emissions than traditional building materials and/or beneficial reuse of waste materials. We are a leading provider of heavy building materials in Florida, the New York and New Jersey Metropolitan area (“Metro New York”), Virginia, North Carolina and South Carolina (Virginia and the Carolinas, together with Metro New York and their adjacent areas, the “Mid-Atlantic”). We serve markets that benefit from population growth, economic growth and technology and innovation trends that are among the strongest in the United States. We have built what we believe is a unique and differentiated building materials platform in the markets we serve. Today, our manufacturing, logistics and customer support capabilities span across critical building materials and products, including cement and supplementary cementitious materials (“SCMs”), aggregates, ready-mix concrete, concrete block and other ancillary products. Additionally, we believe that our market leadership in lower carbon cement and green concrete solutions positions us to benefit from growing demand for building materials that contribute to lower carbon emissions. We believe our vertically integrated business model and continued investment in our extensive logistical capabilities have enabled us to grow with our diverse customer base across infrastructure, residential and non-residential end markets. By leveraging these competitive advantages across our two reportable segments, the Mid-Atlantic and Florida, we believe that we are in a strong position to drive meaningful growth and enhanced profitability into the future. Our executive management team has led Titan America to experience growth in scale, product portfolio and geographic footprint. This growth was driven by our management team’s targeted investment strategy, which has enhanced production capacity and strengthened distribution and logistics capabilities in high-growth markets. These efforts include expanding cement and SCM storage, scaling import capacity and leveraging digital investments to optimize logistics execution and boost asset reliability across our vertically integrated operations. Between fiscal years 2013 and 2023, we have grown our sales from $539 million to approximately $1.6 billion (an 11% compound annual growth rate (“CAGR”)), our net income went from a loss of $65.4 million to a positive $155.2 million and our Adjusted EBITDA increased from $36 million to $328 million (a 25% CAGR), while our net income margin has grown from negative 12% to positive 10% during that same period. Note: Net income and revenue are for the 12 months that ended Sept. 30, 2024. (Note: Titan America disclosed its IPO’s terms in an F-1/A filing on Jan. 28, 2025: The IPO will consist of 24.0 million shares at a price range of $15.00 to $18.00 to raise $396.0 million, if priced at the $16.50 mid-point of its range. Of the 24.0 million shares in the IPO, Titan America is offering only 9.0 million shares while the selling shareholder is offering the rest – 15.0 million shares. ) (Note: Titan America filed its F-1 for its IPO without disclosing the terms on Jan. 13, 2025. Estimated IPO proceeds are $100.0 million. Some Wall Street pros said that they believed that Titan America’s IPO could raise between $400 million and $500 million.) “.

Titan America was founded in and has employees. The company is located at 1000 Bruxelles, Square de Meeûs 37, Belgium and can be reached via phone at +32 27 26 80 58 or on the web at http://www.titanamerica.com/.