IPO WATCHThe following companies, all backed by private equity investors, have either recently listed or are moving toward public listings
RECENTLY LISTED | |||
Company | Description | PE backer(s) | Notes |
OpenTable | Online restaurant | Benchmark Capital | This closely watched dotcom, around |
reservation service | Partners, Impact Venture | since the late 1990s, thrilled VCs when it | |
(NASDAQ: OPEN) | Partners | traded above its offering price of $20, | |
closing at $31.89 | |||
Avago | Semiconductor | KKR, Silver Lake | IPO values company at around $3.5bn; |
manufacturer and | intellectual property portfolio of more | ||
distributor based | than 5,000 patent applications | ||
in Singapore | |||
(NASDAQ: AVGO) | |||
Emdeon | Healthcare payment | General Atlantic; | The company received General Atlantic's |
systems provider, | Hellman & friedman | largest-ever equity cheque – some | |
spun out of the cor- | $485m. Its listing on the NYSE repre- | ||
porate parent of | sents a huge, unrealised value increase | ||
WebMD. Based in | for its sponsors. The IPO raised $367m | ||
Nashville, Tennessee | and valued the company at $1.8bn | ||
(NASDAQ: EM) | |||
PLANNED LISTINGS | |||
Company | Description | PE backer(s) | Notes |
RailAm erica | Shortline rail | fortress Investments | Taken private in 2006 for $1.1bn; IPO will |
operator based in | raise up to $300m on NYSE | ||
Jackson, florida | |||
Dollar General | Discount retailer | Kohlberg Kravis Roberts | Taken private in 2007 for $7.3bn. The |
based in | company is thriving in the market down- | ||
Goodlettsville, | turn. Sales increased in 2008 by 10.9 | ||
Tennessee | percent, totaling $10.5 billion | ||
InfrastruX Group | Seattle-based | Tenaska Capital | Tenaska is affiliated with power producer |
provider of services | Management | Tenaska Energy; plans to raise $290 mil- | |
to gas and electricity | lion in IPO; company reported a net loss | ||
companies | of $36.6 million in 2008 | ||
(“Vitamin | and direct marketer | (formerly Bear Stearns | value: $143,750,000 |
Shoppe”) | of vitamins and other | Merchant Banking) | |
health and wellness | |||
products | |||
fortinet | Sunnyvale, | Redpoint Ventures; | The company has received more than |
California-based | Meritech Capital | $100m in VC funding; proposed maxi- | |
provider of network | mum aggregate offering price: $100m | ||
security appliances | |||
Ancestry.com | |||
Subscription-based | Spectrum Equity | A Spectrum portfolio company spent | |
heritage website, | Investments, Sorenson | $300m for a majority interest in 2007; | |
headquartered in | Media, MGI@Ventures, | Ancestry.com has seen revenues | |
Provo, utah | EsNet Group (owns 67%) | increase to $197.6 million in 2008 from | |
$122.6 million in 2004; aiming to raise | |||
$75 million with IPO |