Mayville Engineering, which manufactures components for commercial and industrial vehicle OEMs, announced terms for its IPO on Monday.
The Mayville, WI-based company plans to raise $125 million by offering 6.3 million shares at a price range of $19 to $21. At the midpoint of the proposed range, Mayville Engineering would command a market value of $394 million.
Mayville Engineering was founded in 1945 and booked $524 million in sales for the 12 months ended December 31, 2018. It plans to list on the NYSE under the symbol MEC. Baird, Citi and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of May 6, 2019.
