Reuters – PE-Backed Boise Cascade Plans $200M IPO
Plywood and lumber maker Boise Cascade said it plans to sell 11.8 million shares for between $16 and $18 each in an initial public offering. The company, which is backed by private equity firm Madison Dearborn, will look to tap investor appetite amid an upturn in the U.S. housing market. It has more than 4,500 customers and expects to earn $39 million to $43 million on revenue of $2.18 to $2.20 billion in 2012, according to a regulatory filing. Boise Cascade, whose products are used in new residential construction and remodeling projects, will have a market valuation of more than $700 million at the top end of the price range. U.S. office supplies chain OfficeMax Inc. has a 20 percent stake in the Boise, Idaho-based company. Madison will continue to own a majority stake Boise Cascade after the IPO.
