Acelity Holdings, an LBO'd provider of advanced wound care systems and tissue implants, withdrew its plans for an initial public offering on Wednesday, citing market conditions. It originally filed in August 2015 with a proposed deal size of $1.0 billion.
In September, the company's CFO resigned to join LendingClub (LC) as CFO.
The San Antonio, TX-based company was founded in 1976 and booked $1.9 billion in sales for the 12 months ended June 30, 2015. It had planned to list on the NYSE under the symbol ACEL.RC. J.P. Morgan, Goldman Sachs, BofA Merrill Lynch, Morgan Stanley, Barclays, Credit Suisse, RBC Capital Markets and UBS Investment Bank were set to be the joint bookrunners on the deal.
