Cypress Energy Partners LP, which provides saltwater disposal and other environmental services to oil and natural gas companies, announced terms for its IPO on Monday. The Tulsa, OK-based company plans to raise $75 million by offering 3.8 million shares at a price range of $19 to $21. At the midpoint of the proposed range, Cypress Energy Partners LP would command a fully diluted market value of $237 million.
Cypress Energy Partners LP, which was founded in 2013 and booked $329 million in sales for the 12 months ended September 30, 2013, plans to list on the NYSE under the symbol CELP. Cypress Energy Partners LP initially filed confidentially on September 20, 2013. Raymond James, Baird, Stifel and BMO Capital Markets are the joint bookrunners on the deal.
