Bain Capital has completed its secondary offering of four million shares of chemical maker Innophos Holdings Inc., for $27.50 per share. The deal reduced Bain’s ownership position from 48.3 percent to 29.1 percent. Bain acquired Innophos in 2004 from Rhodia for $550 million, and brought it public in 2006. It had filed to sell five million shares last year, but later pulled the offering.
CCS Medical Holdings Inc. (known as Chronic Care Solutions), a Clearwater, Fla.-based medical supply management company, has withdrawn its IPO registration, due to “market conditions.” It had planned to sell 10 million common shares at between $14 and $16 per share, which could have garnered a market cap of up to $607 million. Lehman Brothers and Goldman Sachs were serving as co-lead underwriters. Warburg Pincus acquired the company in 2005.
KKR and DLJ Merchant Banking Partners have filed to sell 10 million shares in specialty chemical company Rockwood Holdings. The proposed price of $41.74 per share would generate around $417 million in proceeds for the sellers, which would rise to nearly $480 million if a 1.5 million overallotment option were exercised. Assuming just the initial 10 million share sale, KKR’s position in Rockwood would drop from 41 percent to 30.8 percent, while DLJ’s would drop from 30.8 percent to 8.8 percent.
Metropark USA Inc., a City of Industry-based specialty retailer whose mall-based stores are focused on fashion-oriented 20-30 year-olds, has filed for a $100 million IPO. It plans to trade on the Nasdaq under ticker symbol MTPK, with Goldman Sachs serving as lead underwriter. The company raised a small amount of expansion capital last year from Claritas Capital.
Monotype Imaging Holdings Inc., a Woburn, Mass.-based provider of text imaging software, has filed for a secondary offering of five million shares. Selling shareholders include TA Associates, whose ownership position would drop from 49.9 percent to 37.6 percent. Monotype filed for the sale last Friday. Its closing price the prior day was $11.99 per share.
RHI Entertainment Inc., a New York-based producer of made-for-TV movies and other television programming, raised $189 million via an IPO. The company priced $13.5 million shares at $14 per share, which was lower than the $16-$18 per share expectations. It will trade on the Nasdaq under ticker symbol RHIE, while JPMorgan and Banc of America Securities served as co-lead underwriters. RHI was previously known as Hallmark Entertainment, before being acquired and renamed by Kelso & Co. and members of company management in January 2006. Later that year, RHI acquired the domestic rights to Crown Media’s film library, which Crown had originally bought from Hallmark Entertainment six years earlier.
Xtep International Holdings Ltd., a Chinese maker of fashion sportswear, has raised HK$2.23 billion (US $286m) in an IPO on the Hong Kong Exchange. Company shareholders include The Carlyle Group.