Aeroflex Holding Corp., a Plainview, N.Y.-based provider of radio frequency and microwave ICs used in wireless communications systems, has filed for a $500 million IPO. It plans to trade on the NYSE under ticker symbol ARX, and reports $297 million in net sales for 2009. The company was acquired in 2007 for $1.1 billion by Veritas Capital, Golden Gate Capital and Goldman Sachs.
Bain Capital and KKR are planning IPO filings for portfolio companies Toys “R” Us and NXP Semiconductor, according to The Wall Street Journal.
China Grand Automotive Services Ltd., China’s largest auto dealership network, is planning an IPO that could raise around $1 billion. Goldman Sachs and China International Investment Corp. will serve as underwriters. TPG owns a 40 percent stake in the company.
Court Square Capital Partners has acquired The Harvard Drug Group from H.I.G. Capital for an undisclosed amount. Harvard Drug is a Livonia, Mich.-based distributor of generic pharmaceuticals, with nearly $500 million in annual sales.
Douglas Dynamics Inc., a Milwaukee-based maker of snow plows and salt spreaders for light trucks, has set its IPO terms to 10 million common shares being offered at between $14 and $16 per share. It would have an initial market cap of approximately $316 million, were it to price at the high end of its range. The company plans to trade on the NYSE under ticker symbol PLOW, with Credit Suisse and Oppenheimer & Co. serving as co-lead underwriters. Shareholders include Aurora Capital Group (68.65 percent pre-IPO stake), Ares Corporate Opportunities (33.03 percent) and the GE Pension Trust (15.23 percent).
DynaVox Inc., a Pittsburgh-based maker of software and devices that assist people in overcoming speech, has set its IPO terms to 9.375 million shares being offered at between $15 and $17 per shares. It plans to trade on the Nasdaq under ticker symbol DVOX, with Piper Jaffray and Jefferies & Co. serving as co-lead underwriters. Shareholders include Vestar Capital Partners and Park Avenue Equity Partners.
FleetCor, a Norcross, Ga.-based provider of branded fuel cards, has filed for a $500 million IPO. It plans to trade on the NYSE, with J.P. Morgan and Goldman Sachs serving as co-lead underwriters. The company reports $354 million in 2009 revenue, compared to $341 million in 2008 and $264 million in 2007. Its 2009 net income was $89 million, down from $97 million in 2008. FleetCor shareholders include Summit Partners, Bain Capital, Advent International, Advantage Capital, Nautic Partners, HarbourVest Partners and Performance Equity Management.
HCA, a hospital chain owned by Bain Capital and KKR, is prepping an IPO that could raise upwards of $3 billion.
Hearst Corp. is nearing a $375 million deal to buy digital marketing company iCrossing, according to The Wall Street Journal. iCrossing shareholders include Goldman Sachs and Oak Investment Partners.
IntraLinks, a New York-based provider of SaaS solutions for securing managing and sharing content, has filed for a $150 million IPO. Morgan Stanley, Deutsche Bank and Credit Suisse are serving as co-lead underwriters. The company reports around $140 million in 2009 revenue, compared to around $143 million in 2008 revenue. Gross profit for 2009 was nearly $92 million, while net income was negative $24.77 million. TA Associates holds a 53.7 percent stake, based on a 2007 recapitalization. Rho Ventures holds a 34.4 percent stake via both the recap and prior investment.
Lightyear Capital has agreed to sell its majority stake in The NAU Group, a provider of crop insurance in the United States, to a unit of Australia’s QBE Insurance Group. The deal is valued at $565 million, plus a special dividend at closing.
MatlinPatterson reportedly has hired Blackstone Group to advise on a sale of Polymer Group, a maker of non-woven materials. MatlinPatterson holds a 65 percent stake in Polymer Group, which has a current market cap of approximately $350 million.
Molycorp Inc., a Greenwood Village, Colo.-based rare earth mining company, has filed for a $350 million IPO. It plans to trade on the NYSE under ticker symbol MCP, with J.P. Morgan and Morgan Stanley serving as co-lead underwriters. The company was created in 2008 when Chevron Mining sold its Mountain Pass operations to an acquisition company formed by Pegasus Partners, Goldman Sachs, Traxys North America and Carint Group.
Niska Gas Storage, a Gridley, Calif.-based owner and operator of natural gas storage assets in North America, has set its IPO terms to 17.5 million common units being offered at between $19 and $21 per unit. It plans to trade on the NYSE under ticker symbol NKA, with Goldman Sachs and Morgan Stanley serving as co-lead underwriters. Niska Gas is majority-owned by the Carlyle/Riverstone Global Energy and Power Funds.
NXP, a Dutch semiconductor company, has filed for a $1.15 billion IPO. Philips Electronics sold an 80 percent stake in the company four years ago to a buyout consortium that included KKR, Bain Capital, AlpInvest, Apax Partners and Silver Lake Partners.
OMERS Private Equity has agreed to acquire U.S. Infrastructure Corp. from Kohlberg & Co. No financial terms were disclosed. USIC is an Indianapolis-based provider of outsourced sub-surface utility locating services, and was formed in 2008 via the merger of SM&P and CLS.
Permira dismissed market speculation that it is looking to sell its control stake in publicly-traded fashion house Hugo Boss.
RealD Inc., a Beverly Hills, Calif.-based licensor of stereoscopic (a.k.a. 3-D) technologies, has filed for a $200 million IPO. It plans to trade on the NYSE under ticker symbol RLD, with J.P. Morgan and Piper Jaffray serving as co-lead underwriters. Company revenue was just over $45 million for the year ending March 27, 2009. Shareholders include Shamrock Capital Growth Fund, with a 14.8 percent pre-IPO stake.
Smile Brands Group Inc., a Santa Ana, Calif.-based provider of support services to dental groups in the U.S., has set its IPO terms to 7.35 million common shares being offered at between $16 and $18 per share. The company would have an initial market cap of approximately $350 million, were it to price at the high end of its range. Freeman Spogli & Co. holds a 77.3 percent pre-IPO ownership position. Other shareholders include CalSTRS (9.8 percent), Gryphon Investors (6.5 percent) and ASF Co-Investment Partners (6.5 percent).