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Maxum Petroleum Sets IPO Terms

Maxum Petroleum Holdings Inc., an Old Greenwich, Conn.-based energy logistics company, has set its IPO terms to 16.7 million common shares being offered at between $14 and $16 per share. It plans to trade on the NYSE under ticker symbol MXP, with Credit Suisse, Bear Stearns and UBS serving as co-lead underwriters.


The company was formed in October 2003 as an acquisition platform called SPI, by sponsors Northwest Capital Appreciation, Waud Capital Partners and RBC Capital Partners (through Cadent Energy Partners). It has since acquired such companies as Simons Petroleum, Trevco, Hartney Fuel Oil Co., Pecos and Canyon State Oil Company.