Arc Logistics Partners LP, a Lightfoot Capital-backed MLP formed to own and operate energy logistics assets, announced terms for its IPO on Monday. The New York, NY-based company plans to raise $120 million by offering 6.0 million shares at a price range of $19 to $21. At the midpoint of the proposed range, Arc Logistics Partners LP would command a fully diluted market value of $243 million.
Arc Logistics Partners LP, which was founded in 2013 and booked $34 million in sales for the 12 months ended June 30, 2013, plans to list on the NYSE under the symbol ARCX. Arc Logistics Partners LP initially filed confidentially on August 12, 2013. Citi, Barclays, Suntrust Robinson Humphrey and Wells Fargo Securities are the joint bookrunners on the deal.
