Gardner Denver Holdings, which engineers and manufactures industrial systems and parts, announced terms for its IPO on Wednesday.
The Milwaukee, WI-based company plans to raise $1.0 billion by offering 41.3 million shares at a price range of $23 to $26. At the midpoint of the proposed range, Gardner Denver Holdings would command a fully diluted market value of $5.0 billion.
Gardner Denver Holdings was founded in 1859 and booked $2 billion in sales for the 12 months ended March 31, 2017. It plans to list on the NYSE under the symbol GDI. Goldman Sachs, Citi, UBS Investment Bank, KKR, Simmons & Co., Deutsche Bank, Baird, Credit Suisse and Morgan Stanley are the joint bookrunners on the deal. It is expected to price during the week of May 8, 2017.
