ALLIANCE Member Case Histories

Return to menu

Building an IR Department to Broaden the Investor Base

Member: Richard Coyle

Client: Rayovac

Challenge: Formalize an investor relations program consistent with ROV's value brand positioning against Gillette's Duracell and Ralston Purina's Energizer to foster secondary equity offerings, reduced control by Thomas H. Lee Company.

Strategy: Create internal IR function , linked to existing marketing communications focus, to target buy-side funds, sell-side analysts for aggressive contact, direct mail outreach.

Results:

• Created "best practices" corporate disclosure policy, operations
• Screened 367 consumer products analysts to focus on those "over-valuing" Rayovac peer companies at A.G. Edwards, Alex Brown, Cruttendon, Dain Rauscher, Lehman and other firms; and 8,000 funds to find Vickers' 30 best-fit institutional investors
• Monitored competitor news releases, quarterly results, conference calls for competitive leverage in Rayovac disclosures and created templates for financial releases
• Solicited presentation invitations at sector conferences of Bear Stearns, Clearly Gottleib, DLJ, Merrill, Salomon Smith Barney, Robertson Stephens and various splinter groups
• Doubled the number of institutional shareholders, thereby reducing the controlling position of Thomas H. Lee company, within nine months