23rd Mar 2026 14:06
(Alliance News) - Frontier IP Group PLC on Monday noted progress for portfolio company Alusid Ltd's European roll-out.
Despite the positive announcement, shares in Frontier IP were down 12% to 11.20 pence on Monday afternoon in London, amid a volatile overall market.
The London-based firm focused on commercialising intellectual property had reported "a significant milestone" for investee Alusid, of which it owns 36.16%.
Alusid has reached an agreement with Front Materials BV, a "Dutch sustainable materials specialist", according to Frontier IP, and Tegelgroep Nederland, a wholesaler operating across Belgium, Luxembourg and the Netherlands. Tegelgroep is part of the BME Group, which also operates in Germany, Switzerland, Spain and Portugal, and generates about EUR5.5 billion in annual revenue, Frontier IP said.
The agreement is for Alusid's Mas sustainable floor tiles to be "made widely available in the Netherlands", with Tegelgroep selling them directly to Dutch businesses as well as to roughly 600 retailers in the Benelux region.
Last year, Alusid completed a pre-IPO funding round and announced a distribution deal with Front. By stocking Alusid's tiles, Front and Tegelgroep are launching a new partnership called Ceralution.
Frontier IP said "news that [Alusid] is now generating sales in Europe provides a further boost as the company continues to explore the potential for an initial public offering."
The investment firm's chief executive Neil Crabb commented: "We are delighted with this agreement that Front have managed to secure for Alusid. The commitment from Tegelgroep demonstrates the global appeal of Alusid's sustainable, low-carbon tiles and the potential they have to make serious inroads into markets internationally. The company is an attractive proposition to investors as it explores options for an IPO."
Existing customers of Alusid include Starbucks Corp and Topps Tiles PLC, Frontier IP added.
By Holly Munks, Alliance News reporter
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