Reuters – PE-Backed Boise Cascade Plans $200M IPO

Plywood and lumber maker Boise Cascade said it plans to sell 11.8 million shares for between $16 and $18 each in an initial public offering. The company, which is backed by private equity firm Madison Dearborn, will look to tap investor appetite amid an upturn in the U.S. housing market. It has more than 4,500 customers and expects to earn $39 million to $43 million on revenue of $2.18 to $2.20 billion in 2012, according to a regulatory filing. Boise Cascade, whose products are used in new residential construction and remodeling projects, will have a market valuation of more than $700 million at the top end of the price range. U.S. office supplies chain OfficeMax Inc. has a 20 percent stake in the Boise, Idaho-based company. Madison will continue to own a majority stake Boise Cascade after the IPO.

(Reuters) – Plywood and lumber maker Boise Cascade said it plans to sell 11.8 million shares for between $16 and $18 each in an initial public offering.

The company, which is backed by private equity firm Madison Dearborn, will look to tap investor appetite amid an upturn in the U.S. housing market.

It has more than 4,500 customers and expects to earn $39 million to $43 million on revenue of $2.18 to $2.20 billion in 2012, according to a regulatory filing. ()

Boise Cascade, whose products are used in new residential construction and remodeling projects, will have a market valuation of more than $700 million at the top end of the price range.

U.S. office supplies chain OfficeMax Inc has a 20 percent stake in the Boise, Idaho-based company. Madison will continue to own a majority stake Boise Cascade after the IPO.

BofA Merrill Lynch and Goldman Sachs are lead underwriters on the IPO. Deutsche Bank, J.P. Morgan, Wells Fargo Securities, D.A. Davidson, Moelis & Company and Piper Jaffray are also underwriting the offering.

The company plans to list its shares on the New York Stock Exchange under the symbol “BCC.”

Boise Cascade’s IPO is expected to price on Tuesday, Feb. 5, underwriters said.

Shares of OfficeMax, which rose nearly 30 percent when Boise filed for its IPO in November, closed at $11.14 on the New York Stock Exchange on Tuesday.

Leave a Reply

PEHUB Community

Join the 12505 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

PE HUB News Briefs

RSS Feed Widget

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget

Reuters VC and PE feed

RSS Feed Widget