Tomkins taps BofA, Goldman, Morgan Stanley to lead IPO: sources - Reuters
Tomkins Plc, a private equity-owned manufacturer of auto parts and building products, has hired Bank of America Merrill Lynch, Goldman Sachs Group and Morgan Stanley to lead an initial public offering that could value the company at as much as $7 billion, people familiar with the matter told Reuters. Onex Corp and the Canada Pension Plan Investment Board (CPPIB), which acquired Tomkins in 2010 for $5 billion including debt, will also explore an outright sale of Tomkins to another company in what is known as a "dual track" process, the people said on Thursday. Reuters reported on Nov. 22 that the buyout firms were interviewing investment banks to sell Tomkins to another party or float it in the stock market, with a process to explore both possibilities expected to start in the first quarter.
