Milacron files for initial public offering
Processing equipment maker intends to apply to list its common stock on the New York Stock Exchange or the NASDAQ Global Market.
Plastics processing equipment maker Milacron Holdings Corp. is going public.
On April 3, the Cincinnati, Ohio-based company announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission (“SEC”) relating to the proposed initial public offering of its common stock. “The number of shares to be offered and the price range of the proposed offering have not yet been determined,” Milacron said in a statement. “[Milacron] intends to apply to list its common stock on the New York Stock Exchange or the NASDAQ Global Market…[and] expects to use the net proceeds of the offering for general corporate purposes, including the repayment of outstanding indebtedness.”
BofA Merrill Lynch, Barclays, J.P. Morgan, Baird, Credit Suisse and Goldman Sachs are the joint bookrunners on the deal, Milacron said. No pricing terms were disclosed.
The Cincinnati, Ohio-based company traces its roots to 1860. Due primarily to the decline in the U.S. construction and automotive industries, its Canadian and U.S. divisions filed for bankruptcy in March 2009 and investors Avenue Capital and DDJ Capital took control. In April 2012, private equity buyout firm CCMP acquired Milacron for an undisclosed amount.