Atkore International Group, which manufactures electrical circuitry raceways for non-residential construction and renovation markets, filed on Friday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise $300 million.
The Harvey, IL-based company was founded in 1959 and spun out of Tyco in 2010. It booked $1.7 billion in sales for the 12 months ended December 25, 2015. It did not disclose a proposed exchange or ticker. Credit Suisse, Deutsche Bank, J.P. Morgan and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
