Isola Group, which manufactures copper-clad laminate and printed circuit boards used in semiconductors and other electronics, withdrew its plans for an initial public offering on Monday. The company did not disclose a reason for its withdrawal. Isola originally filed for a $100 million IPO on October 31, 2011 and last updated its filing in March 2013. TPG and Oaktree Capital are its controlling shareholders.
The year's other semiconductor-related IPO, SunEdison Semiconductor (SEMI), trades 30% above its IPO price after it posted a healthy 15% first-day pop on its May offering.
The Chandler, AZ-based company was founded in 1912 and Isola booked $556 million in sales for the 12 months ended December 29, 2012. It planned to list on the NASDAQ under the symbol ISLA. UBS Investment Bank and Piper Jaffray were set to be the joint bookrunners on the deal.
