Three companies expected to offer shares to public markets are owned by private equity groups
Douglas Dynamics Inc., a Milwaukee-based firm that manufactures and sells snowplows and ice removal equipment under the Western Snowplow, Blizzard and Fisher brands, filed documents on Friday for an initial public offering with the Securities and Exchange Commission.
Generac Holdings Inc., the corporate parent of Generac Power Systems Inc., and RedPrairie, a software and technology provider to manufacturers, retailers and distributors, both filed last year for IPOs with the SEC.
All three of the companies are owned by private equity groups. Douglas Dynamics is owned by Aurora Capital Group of Los Angeles. Generac Holdings is owned by CCMP Capital Advisors LP of New York. RedPrairie is owned by Francisco Partners LLC from San Francisco.
Sussex-based Quad/Graphics Inc., will also become a publicly traded company this year, through its acquisition of publicly-traded World Color Press Inc., which was announced early last week. After the acquisition closes, World Color Press shareholders will receive about 40 percent of the shares of the combined company’s stock. The Quadracci family will retain roughly 60 percent of the stock of the company. The new Quad/Graphics stock will be registered with the SEC and traded on a leading exchange, the company said previously.
The IPOs for all four companies are expected to happen this year.
With its three brands, Douglas Dynamics controls roughly 50 percent of the light truck snow and ice removal market, the SEC filing states. In the first nine months of 2009, Douglas Dynamics had roughly $125 million in revenues, $28 million in EBITDA and $2.7 million in net income.
According to the SEC documents, Douglas Dynamics anticipates raising as much as $150 million in the offering. There is no indication on the number of shares, share price or timing of the offering in the filing.
Generac anticipates offering more than 3 million shares of stock during its IPO, according to filings with the SEC that were updated last week. The shares are expected to sell between $15 and $17 per share.
Generac will trade on the New York Stock Exchange under the symbol GNRC.
Generac’s IPO has been raised to as much as $427.6 million, a more than 42.5 percent increase. The company earlier had said it expected to raise $300 million in the offering.
In the updated filing, Generac says its 2009 earnings were between $584 million and $589 million, with between $94 million and $99 million in income.
RedPrairie’s IPO filing states the company expects to generate up to $172.5 million with its offering.
RedPrairie had about $194 million in revenues for the first nine months of 2009, according to its filings with the SEC, compared to $221 million in the same period of 2008. It had about $95 million in profit by the end of September of 2009, compared to $106.5 million during the first three quarters of 2008.