Edwards Group, which manufactures vacuum products for use in the production of semiconductors, R&D equipment and solar products, filed with the SEC on Wednesday to raise $150 million in an initial public offering. The England-based company had previously filed for an IPO in London in March 2011 but withdrew in April.
Sales increased 9% to $1.09 billion in 2011. While gross margin declined 150 basis points to 37%, operating income improved 35% to $159 million. Net income for the year was $88 million.
Edwards Group began operations in 1919 and was acquired in 1968 by The BOC Group, which traded on the LSE. Private equity firms CCMP Capital and Unitas Capital Investors acquired the company in May 2007 and continue to own a substantial majority of shares. Edwards Group plans to list on the NASDAQ under the symbol EVAC. Barclays, Goldman Sachs and Deutsche Bank Securities are the joint bookrunners on the deal.
