Philadelphia Energy Solutions, a Carlyle-backed owner of two crude oil refineries and a rail terminal in Philadelphia, postponed its IPO on Friday citing poor market conditions.
The Philadelphia, PA-based company was founded in 2012 and booked $12.2 billion in sales for the 12 months ended March 31, 2015. PESC. BofA Merrill Lynch, Credit Suisse, Goldman Sachs, Barclays, Jefferies and J.P. Morgan were set to be the joint bookrunners on the deal.
