Aercap Holdings NV, a Dutch provider of aircraft, engines and parts, priced a $600.3 million IPO. It will trade on the NYSE under ticker symbol AER. Morgan Stanley served as lead underwriter while Cerberus is its controlling shareholder.
Altra Holdings Inc., a Quincy, Mass.-based provider of mechanical power transmission and motion control products, has set its proposed IPO terms to 10 million common shares being offered at between $14 and $16 per share. It plans to trade on the Nasdaq under ticker symbol AIMC, with Merrill Lynch serving as lead underwriter (Wachovia previously had been co-lead underwriter, but now is serving in a backing position). Genstar Capital is Altra’s majority shareholder, with Caisse de dépôt et placement du Québec also holding a significant stake.
Carrols Restaurant Group Inc., a Syracuse, N.Y.-based franchisor of Burger King, Pollo Tropical and Toca Cabana restaurants, has set its proposed IPO terms to 15 million common shares being offered at between $14 and $16 per share. It plans to trade on the Nasdaq, with Wachovia Securities and Banc of America Securities serving as co-lead underwriters. Shareholders include Madison Dearborn Partners and Bahrain International Bank.
Hawkeye Holdings Inc., an Iowa Falls, Iowa-based ethanol producer, has withdrawn registration for a proposed $350 million IPO. It previously had postponed the offering, with CEO Bruce Rastetter saying: “We have decided to temporarily delay our IPO in light of current conditions in the equity markets, and the recent pullback in the energy segment in particular, which are not conducive at this time to achieving appropriate valuation.” Credit Suisse, Morgan Stanly and BofA were to serve as co-lead underwriters, while Thomas H. Lee Partners holds a 79% pre-IPO position.
Hertz Global Holdings Inc., a Park Ridge, N.J.-based automobile and equipment rental company, priced 88.235 million common shares at $15 per share ($16-$18 forecast), for an IPO take of approximately $1.32 billion. It now trades on the NYSE under ticker symbol HTZ, while Goldman Sachs, Merrill Lynch and Lehman Brothers serving as co-lead underwriters. Hertz was bought out from Ford Motor Co. last year for around $15 billion by Clayton, Dubilier & Rice, Carlyle Group and Merrill Lynch Global Private Equity.
NewStar Financial Inc., a Boston-based provider of debt financing for middle-market businesses, has set its proposed IPO terms to 11 million common shares being offered at between $15 and $17 per share. It plans to trade on the Nasdaq under ticker symbol NEWS, with underwriters including Goldman Sachs, Morgan Stanley, Citigroup and Wachovia Securities. Shareholders include Capital Z Partners, Corsair Capital, JPMorgan Capital and Northwestern Mutual Life Insurance Co.
Saudi International Petrochemical Co. (Sipchem), a Saudi Arabia-based diversified petrochemicals company, has completed an IPO on the Saudi Tadawul stock exchange. The company had raised $85 million from the IDB Infrastructure Fund, which is managed by EMP Global.
Spirit Aerosystems Holdings Inc., a Wichita, Kan.–based, non-OEM designer and manufacturer of aerostructures, priced around 55.08 million common shares at $26 per share ($23-$25 range), for an IPO take of approximately $1.35 billion. It now trades on the NYSE under ticker symbol SPR, while Credit Suisse, Goldman Sachs and Morgan Stanley served as co-lead underwriters. Onex Partners remains the company’s controlling shareholder.
Targa Resources Partners LP, a Houston, Texas–based provider of midstream natural gas and NGL services, has filed for an IPO. The only listed terms are that Targa wants to sell 16.8 million common units. It plans to trade on the Nasdaq under ticker symbol NGLS, with Citigroup serving as lead underwriter. Targa was formed by Warburg Pincus in 2003 as an acquisition platform.
US BioEnergy Corp., an Inner Grove Heights, Minn.-based ethanol production company, set its proposed IPO terms to 9.375 million common shares being offered at between $15 and $17 per share. It plans to trade on the Nasdaq under ticker symbol USBE, with UBS and Piper Jaffray serving as co-lead underwriters (Credit Suisse has been dropped). Shareholders include Capitaline Advisors.