Charah Solutions, which provides maintenance services to coal-fired and nuclear power plants, announced terms for its IPO on Monday.
The Louisville, KY-based company plans to raise $125 million by offering 7.4 million shares (28% insider) at a price range of $16 to $18. At the midpoint of the proposed range, Charah Solutions would command a market value of $511 million and an enterprise value of $681 million.
Charah Solutions was founded in 1987 and booked $527 million in sales for the 12 months ended March 31, 2018. It plans to list on the NYSE under the symbol CHRA. Morgan Stanley, BofA Merrill Lynch and Stifel are the joint bookrunners on the deal. It is expected to price during the week of June 11, 2018.
