Hexion Specialty Chemicals Inc., a Columbus, Ohio-based maker of thermosetting resins, has canceled a proposed $800 million IPO. Apollo formed Hexion last year as a rollup of Borden Chemical Inc., Resolution Specialty Materials LLC and Bakelite AG.
El Pollo Loco, an Irvine, Calif.–based quick-service restaurant chain, has pulled its proposed $135 million IPO, citing “current market conditions.” Trimaran Capital Partners had acquired the company in November 2005 from American Securities Capital Partners.
GateHouse Media Inc., a Fairport, N.Y.-based community newspaper publisher, has set its proposed IPO terms to 11.5 million common shares being offered at between $16 and $18 per share. It plans to trade on the NYSE under ticker symbol GHS, with Goldman Sachs and Wachovia Securities serving as co-lead underwriters. Fortress Investment Group holds a 95.9% pre-IPO position.
Home Inns & Hotels Management Inc.First Mercury Financial Corp., a Southfield, Mich.-based provider of insurance products to the specialty commercial insurance markets, priced around 9.7 million common shares at $17 per share ($16-$18 range), for an IPO take of approximately $165 million. It will trade on the NYSE under ticker symbol FMR, while JPMorgan and Keefe, Bruyette & Woods served as co-lead underwriters. Glencoe Capital was the company’s majority shareholder, pre-IPO.
Madison River Communications Corp., a Mebane, N.C.-based provider of rural telephone services, has filed for a $287.5 million IPO. It plans to trade on the Nasdaq under ticker symbol MRCC, with Merrill Lynch and Goldman Sachs serving as co-lead underwriters. Company shareholders include Madison Dearborn Partners, Goldman Sachs and Providence Equity Partners.
SHG Holding Solutions Inc. (Skilled Healthcare), a Foothill Ranch, Calif.-based provider of nursing facilities and rehabilitation therapy centers, has filed for a $175 million IPO. It plans to trade on the NYSE under ticker symbol SKH, with Credit Suisse serving as lead underwriter. Onex Partners bought the company from Heritage Partners last year for around $640 million.
Summit Partners is planning to sell its remaining 4.5 million shares of Nighthawk Radiology Holdings Inc. (Nasdaq: NHWK) via a secondary public offering.
Vision-Ease Lens Inc., a Ramsey, Minn.-based maker of polycarbonate prescription lenses and lens treatments, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol VELS, with JPMorgan serving as lead underwriter. Shareholders include Insight Equity and PNC Equity Partners.
Wavin Group, a Dutch plastic pipe manufacturer, raised around €371 million via an IPO on the Euronext in Amsterdam. The company was acquired last year by CVC Capital Partners, and priced at the bottom of its €11-€13.50 per share offering range. It also reduced the number of offered shares by nearly one-third.