Booz Allen Files for $300 Million IPO


(Reuters) – Booz Allen Hamilton, a consultant backed by Carlyle Group, filed on Monday to raise up to $300 million in an initial public offering, the latest private equity-backed firm to do so.

Booz Allen, which provides management and technology consulting services to the U.S. government in the defense, intelligence and civil markets, said it would use proceeds from the offering to repay debt.

The McLean, Virginia-based company did not reveal the size of the offering or an expected price range.

Morgan Stanley, Barclays Capital, Bank of America Merrill Lynch and Credit Suisse are acting as joint book-running managers. The shares are expected to trade under the symbol “BAH,” but an exchange has not been specified.

Carlyle, which has more than $90.5 billion under management, bought a majority stake in Booz Allen Hamilton in May 2008 for $2.54 billion.

Booz Allen Hamilton is the latest in a series of filings by private equity portfolio companies whose owners are looking to exit after the window for IPOs, largely shut during the financial crisis, cracked open late last year.

Dutch company NXP Semiconductors filed for an IPO of up to $1.15 billion in April. Hospital operator HCA Inc and U.S. retailer Toys R Us filed for IPOs of up to $4.6 billion and $800 million, respectively, last month. Nielsen Holdings, whose viewship ratings often determine the fate of TV shows, filed for an IPO of up to $1.75 billion earlier this month.

Dunkin’ Donuts, backed by Bain Capital, Carlyle and Thomas H. Lee Partners, is widely expected to file for an IPO.

The U.S. IPO market has been volatile in recent weeks with many new issues downsized, delayed or shelved as investors prove wary amid fears surrounding the Greek debt crisis.

(Reporting by Dinesh Mehta in Bangalore and Clare Baldwin and Paritosh Bansal in New York; editing by Gopakumar Warrier and Andre Grenon)

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