Unique Fabricating, which supplies die cut plastic and foam products primarily to automobile OEMs, filed and set terms for an initial public offering on Monday. The Auburn Hills, MI-based company plans to raise $17 million by offering 1.9 million shares at a price range of $8 to $10. At the midpoint of the proposed range, it would command a fully diluted market value of $81 million.
The company sells various die cut components used by automobile OEMs (80% of revenue), including General Motors (GM; 18% of sales), Chrysler (18%) and Ford (F; 14%). It also supplies thermoformed and compression molded products to the HVAC industry.
Unique Fabricating, which was founded in 1975 and booked $121 million in sales for the 12 months ended September 30, 2014, plans to list on the NYSE under the symbol UFAB. Unique Fabricating initially filed confidentially on September 26, 2014. Taglich Brothers is the sole bookrunner on the deal. A pricing date has not been selected.
