CDM Resource Partners LP, a Houston, Texas-based provider of turn-key natural gas contract compression services, has filed for a $169 million IPO. It plans to sell seven million common units, and trade on the NYSE. Lehman Brothers and Merrill Lynch are serving as co-lead underwriters. The company is owned by management and Carlyle/Riverstone Global Energy & Power Fund II.
Hhgregg Inc., an Indianapolis-based retailer of audio/video products, branded appliances and accessories, raised $121.88 million from its IPO. The company priced 9.375 million common shares at $13 per share ($15-$17 range), which gives it an initial market cap of around $411 million. It began trading on the NYSE under ticker symbol HGG, while Credit Suisse and Lehman Brothers served as co-lead underwriters. Freeman Spogli & Co. was the company’s largest shareholder with a 64 percent pre-IPO stake, followed by CalSTRS (10.5 percent).
Lululemon Corp., a Vancouver-based athletic apparel designer and retailer, raised $327.6 million via its IPO. The company sold 18.2 million common shares at $18 per share (above revised $15-$17 range and original $10-$12 range), for an initial market cap of approximately $1.24 billion. It began trading on both the Nasdaq and TSX, while Goldman Sachs and Merrill Lynch served as co-lead underwriters. Shareholders include Advent International, Highland Capital Partners and Brooke Private Equity Advisors.
Maxcom Telecommunications, a Mexican telecom services provider for residences and SMEs, has filed for a $175 million IPO. It plans to trade on both the Mexico Stock Exchange and an undetermined U.S. exchange, with Morgan Stanley serving as lead underwriter. Shareholders include Banc of America Equity Partners.
Monotype Imaging Holdings Inc., a Woburn, Mass.-based provider of text imaging software, raised $132 million via its IPO. The company priced 11 million common shares at $12 per share ($13-$15 range), which gives it an initial market cap of approximately $403 million. Monotype began trading on the Nasdaq under ticker symbol TYPE, while Banc of America Securities served as lead underwriter. TA Associates held an 81.2 percent pre-IPO ownership position, with D.B. Zwirn held a 3.9 percent stake.
NanoDynamics Inc., a Buffalo, N.Y.-based developer of solid-oxide fuel cells, water filters and other advanced materials, has set its IPO terms to 6.6 million common shares being offered at between $12 and $14 per share. It would be valued at around $371 million, if it were to price at the high end of its range. NanoDynamics plans to trade on the Nasdaq under ticker symbol NDMX, with Jefferies & Co. serving as lead underwriter. It has raised around $15.25 million in total private funding, with backers including the Convergent Private Equity Fund.
Orbitz Worldwide Inc., a Chicago-based operator of a travel reservations website, raised $510 million through its IPO. The company priced 34 million common shares at $15 per share (below $16-$18 range), which gives it an initial market cap of approximately $1.24 billion. Orbitz is a subsidiary of Travelport Ltd., which The Blackstone Group and Technology Crossover Ventures bought last year from Cendant for $4.3 billion. It later added on PE-backed Worldspan for $1.4 billion. Orbitz began trading on the NYSE under ticker symbol OWW, while underwriters included Morgan Stanley, Goldman Sachs, Lehman Brothers and JPMorgan.
Paragon Shipping Inc., an Athens, Greece-based dry-bulk shipping company, has set its IPO terms to 10.3 million common shares being offered at between $16 and $18 per share. Paragon plans to trade on the Nasdaq under ticker symbol PRGN, with UBS and Morgan Stanley serving as co-lead underwriters. Shareholders include Citigroup and Silver Point Capital.
SemGroup Energy Partners LP, based in Tulsa, Okla., raised $275 million in its IPO. The company sold 12.5 million common units at $22 per unit ($19-$21 range), and ended its first day of trading up at $29.32 per unit. It is trading on the Nasdaq under ticker symbol SGLP, while Citi and Merrill Lynch served as co-led underwriters. Shareholders include Carlyle/Riverstone, which first invested in late 2004.
Talecris Biotherapeutics Holding Corp., a Research Triangle Park, N.C.-based developer of plasma-derived protein therapies, has filed for a $1 billion IPO. It plans to trade on the Nasdaq under ticker symbol TLCR, with Morgan Stanley, Goldman Sachs and J.P. Morgan serving as co-lead underwriters. The company is controlled by Cerberus Management and Ampersand Ventures.
Validus Holdings Ltd., a Bermuda-based reinsurance company, raised $334.4 million via its IPO. The company priced 15.2 million common shares at $22 per share, which was below both its expected share amount (15.7 million) and price range ($24-$26). It has an initial market cap of approximately $1.58 billion. Validus began trading on the NYSE under ticker symbol VR, while Goldman Sachs and Merrill Lynch served as co-lead underwriters. It was formed in October 2005, with funding from Aquiline Capital Partners, Goldman Sachs Capital Partners, Vestar Capital Partners, New Mountain Capital and Merrill Lynch Global Private Equity.