Douglas Dynamics Prices Low IPO

Douglas Dynamics Inc., a Milwaukee-based maker of snow plows and salt spreaders for light trucks, raised around $112.5 million in its IPO. The company priced 10 million shares at $11.25 per share, compared to an original price range of between $14 and $16 per share (it amended the range to $11.25-$11.75 per share prior to pricing).

It will trade on the NYSE under ticker symbol PLOW, while Credit Suisse and Oppenheimer & Co. served as lead underwriters.

Shareholders include Aurora Capital Group (68.65% pre-IPO stake), Ares Corporate Opportunities (33.03%) and the GE Pension Trust (15.23%).