Eschelon Telecom Inc., has filed to raise via an IPO of common stock. The company hopes to trade on the Nasdaq under ticker symbol ESCH, with Lehman Brothers and Jefferies & Co. serving as lead underwriters. Shareholders include Bain Capital (40.72% pre-IPO position), Wind Point Partners (32.54%) and Stolberg Partners (15.30%).
James River Group Inc., a Chapel Hill, N.C.-based insurance holding company, has filed to raise $80 million via an IPO of common stock. The company plans to trade on the Nasdaq under ticker symbol JRVR, with Keefe, Bruyette & Woods serving as lead underwriter. Trident Capital holds a 28.9% pre-IPO ownership position.
New Skies Satellites Holdings Ltd., a Bermuda-based communications satellite operator, priced 11.9 million common shares at $16.50 per share (below the $18-$20 range), for an IPO take of approximately $196.35 million. New Skies was acquired late last year by The Blackstone Group, which did not sell any shares during the IPO.
Onex Partners, the private equity arm of Onex Corp., is selling 4.2 million shares of publicly-traded Magellan Health Services Inc. for approximately $140 million. Onex bought 8.49 million Magellan shares (approx. 24% of the company) in January 2004 for approximately $159 million.
Quintana Maritime Ltd., a Houston, Texas-based provider of dry-bulk marine transportation services, has filed to raise $300 million via an IPO of common stock. It plans to trade on the Nasdaq under ticker symbol QMAR, with Citigroup and Morgan Stanley serving as lead underwriters. Quintana was formed earlier this year by First Reserve Corp., American Metals & Coal International Inc. and Chairman Corbin J. Robertson.
Rackable Systems Inc., a Milpitas, Calif.-based provider of high-density computer servers and high-capacity storage systems, has set its proposed IPO terms to 6.25 million common shares being offered at between $11 and $13 per share. It plans to trade on the Nasdaq under proposed ticker symbol RACK, with Thomas Weisel Partners serving as lead underwriter. Parthenon Capital holds a 61.2% pre-IPO stake in the company.
RBC Bearings Inc., an Oxford, Conn.-based maker and marketer of plain, roller and ball bearings, has filed to raise $143.75 million via an IPO of common stock. Merrill Lynch & Co. is serving as lead book manager. RBC Bearings lists Whitney & Co. as its primary equity backer.
Republic Companies Group Inc., a Wilmington, Del.-based personal and commercial property and casualty insurance provider, has filed to raise $115 million via an IPO of common stock. It plans to trade on the Nasdaq under ticker symbol RUTX, with JPMorgan and Banc of America Securities serving as lead underwriters. Shareholders include Greenhill Capital Partners (46.7% pre-IPO stake), Brazos Private Equity (17.5%), Banc of America Capital Investors (8.9%), 21st Century Group (7.6%), Norwest Equity Partners (5.8%) and Wand Partners.
Safilo SpA, an Italy-based eyewear maker controlled by CSFB Private Equity, is considering an IPO.
Trimas Corp., a Bloomfield Hills, Mich.-based manufacturer of engineered products, has withdrawn registration for its proposed $230 million IPO. The company originally filed in March 2004, and Goldman Sachs and Merrill Lynch were slated to serve as underwriters. Trimas operated as an independent company beginning in 1987, but was acquired in 1998 by Metaldyne Corp. (then known as MascoTech Inc.). In November 2000, Mataldyne was acquired by an investor group led by Heartland Industrial Partners, which later spun the company out on its own.
Watchdata Technologies Ltd., a Beijing, China-based provider of operating systems software with data security and encryption features, has reduced its IPO terms for the second time in a week. The company originally planned to offer $4 million American depository shares (ADS) at between $18 and $20 per ADS, but recently cut the price down to $14 to $15 per ADS. Now, it also is reducing the total number of offered shares to $3 million. Overall, the original $100 million target has been reduced to around $45 million. Transpac Capital holds a 34% ownership stake in Watchdata, while Deutsche Bank Securities and Jefferies Broadview are serving as lead book managers.
Wexford Shipping Co., a Greenwich, Conn.-based dry bulk carrier, has filed to raise $100 million via an IPO of common stock. Jefferies & Co. is serving as sole underwriter. Wexford Capital is the issuers primary equity sponsor.
Xerium Technologies Inc., a Westborough, Mass.-based supplier of two categories of consumable products used in the production of paper, has reduced its proposed IPO terms to 13.9 million common shares being offered at between $14 and $16 per share. It originally filed to raise $700 million via an IPO of income deposit securities (IDS), but later changed the offering to 16.4 million common shares at between $18 and $20 per share. The company is an indirect, wholly-owned subsidiary of Xerium SA, which is majority-owned by Apax Partners.
Compiled by Dan Primack