Valvoline, a quick-lube chain with 930 locations being spun out of Ashland, filed on Tuesday with the SEC to raise up to $800 million in an initial public offering (deal size is an RC estimate).
The Lexington, KY-based company was founded in 1986 and booked $1.9 billion in sales for the 12 months ended March 31, 2016. It plans to list on the NYSE under the symbol VVV. BofA Merrill Lynch, Citi and Morgan Stanley are the joint bookrunners on the deal. No pricing terms were disclosed.
