Milestone AV Cancels IPO

Milestone AV Technologies Inc. (f.k.a. CSAV Holding Corp.), a Savage, Minn.-based maker of audio-visual mounting equipment and display solutions, has withdrawn its IPO filing. The company had originally filed to sell 12 million shares at between $14 and $16 per share, but later lowered the range to between $12 and $14 per share. Wachovia Securities and Piper Jaffray were serving as co-lead underwriters.

 

Friedman Fleischer & Lowe led a 2003 buyout of Milestone, and currently stands as majority owner. Other shareholders include Fulham Investors and Performance Equity Management. www.chiefmfg.com