TMS International Files for $150 Million IPO

TMS International Inc., a Glassport, Penn.-based provider of outsourced industrial services to steel mills, has filed for a $150 million IPO. it plans to trade on the NYSE under ticker symbol TMS, with Boa Merrill Lynch, Credit Suisse and J.P. Morgan serving as co-lead underwriters.

The company reports $1.3 billion in 2009 revenue, with a $79 million net loss. It had $2.98 billion in 2008 revenue with a $6 million net loss.

Onex Partners bought TMS (fka: Tube City) from Wellspring Capital Partners in early 2007. www.tubecityims.com