ARAMARK Holdings, which provides food, facilities and uniform services to a variety of commercial clients, announced terms for its IPO on Monday. The Philadelphia, PA-based company plans to raise $779 million by offering 36.3 million shares (23% insider) at a price range of $20 to $23. At the midpoint of the proposed range, ARAMARK Holdings would command a fully diluted market value of $5.3 billion.
ARAMARK Holdings, which was founded in 1959 and booked $13.9 billion in sales for the 12 months ended September 30, 2013, plans to list on the NYSE under the symbol ARMK. Goldman Sachs, J.P. Morgan, Credit Suisse, Morgan Stanley, Barclays, BofA Merrill Lynch, RBC Capital Markets and Wells Fargo Securities are the joint bookrunners on the deal.
