Bain Capital plans to sell five million shares of Innophos Holdings Inc. (Nasdaq: IPHS), via a secondary public offering. If successful, the deal would reduce Bain’s ownership position from 48.5 percent to 24.5 percent. Bain acquired Innophos in 2004 from Rhodia for $550 million, and brought it public last fall.
Clean Energy Fuels Corp., a Seal Beach, Calif.-based provider of natural gas as an alternative fuel for vehicle fleets, priced 10 million shares at $12 per share ($13-$17 range), for an IPO take of approximately $120 million. It will to trade on the Nasdaq under ticker symbol CLNE. WR Hambrecht & Co. and Simmons & Co. served as co-lead underwriters. Perseus held a 19.5 percent pre-IPO position, while Boone Pickens was listed as majority shareholder. Both sold a percentage of their shares as part of the IPO.
Duff & Phelps Corp., a New York-based provider of financial advisory and investment-banking services, has filed for a $200 million IPO. It plans to trade on the NYSE under ticker symbol DUF, with Goldman Sachs and UBS serving as co-lead underwriters. Shareholders include Lovell Minnick Partners and Vestar Capital Partners. Lovell Minnick sponsored a management buyout of the company in 2004 from Webster Financial Corp., while Vestar helped finance the 2005 add-on acquisition of the Corporate Value Consulting business of Standard & Poor’s.
Imperium Renewables Inc., a Seattle-based biodeisel producer, has filed for a $345 million IPO. It plans to trade on the Nasdaq under ticker symbol IMPR, with Morgan Stanley and Lehman Brothers serving as co-lead underwriters. Imperium is run by former venture capitalist Martin Tobias, and has raised funding from such firms as Nth Power, Technology Partners, Vulcan Capital, BlackRock Investment Management, Capricorn Management and Silver Point Capital.
Jazz Pharmaceuticals Inc., a Palo Alto, Calif.-based drug development and commercialization company focused on neurology and psychiatry, priced 6 million common shares at $18 per share, for an IPO take of approximately $108 million. It had originally planned to price at between $24-$26 per share, and then lowered its range to $20-$21 per share. Its initial market capitalization is around $441 million. Morgan Stanley and Lehman Brothers served as co-lead underwriters. Jazz had raised around $265 million in VC funding since its 2003 inception, from firms like Kohlberg Kravis Roberts & Co. (46.24 percent pre-IPO stake), Thoma Cressey Bravo (10.72 percent), Beecken Petty O’Keefe & Co. (7.15 percent), Prospect Venture Partners (6.65 percent), Versant Ventures (6.65 percent), Golden Gate Capital (5.36 percent), Lehman Brothers (5.13 percent), Adams Street Partners, EGS Healthcare Capital Partners and Oak Hill Capital.
LDK Solar Co. Ltd., a China-based maker of multicrystalline solar wafers, priced 17.38 American depository shares at $27 per share ($25-$27 range), for an IPO take of approximately $469 million. It will trade on the NYSE under ticker symbol LDK, while Morgan Stanley and UBS served as co-lead underwriters. Shareholders include Jafco Asia.
Neff Corp., a Miami, Fla.–based construction rental company, has withdrawn registration for a $345 million IPO. The original filing was made last year, but Neff shareholder Odyssey Investment Partners has since sold the company to a group led by Lightyear Capital.
RSC Holdings Inc., a Scottsdale, Ariz.-based construction equipment rental company, priced around 20.83 million common shares at $22 per share ($23-$25 range), for an IPO take of approximately $458 million. It will trade on the NYSE under ticker symbol RRR, while Morgan Stanley, Deutsche Bank and Lehman Brothers serving as co-lead underwriters. The company is owned by Oak Hill Capital Partners and Ripplewood Holdings, with each firm expected to hold a 34 percent position post-IPO.
Vitamin Shoppe Inc., a North Bergen, N.J.-based retailer and direct marketer of vitamins, minerals, supplements and other nutritional products, has filed for a $150 million IPO. It plans to trade on the NYSE under ticker symbol VSI, with Bear Stearns, Lehman Brothers and Banc of America Securities serving as co-led underwriters. Bear Stearns Merchant Banking acquired Vitamin Shoppe in 2002, and currently holds a 79.9 percent pre-IPO position.
Warburg Pincus has completed its sale of 10 million shares of TransDigm Group Inc. (NYSE: TDG), via a secondary public offering at $35.25 per share. The deal reduced Warburg Pincus’ ownership position in TransDigm from 69 percent to around 48.6 percent.