Tower International (also known as Tower Automotive), a global provider of structural metal components, assemblies and solar panels for automotive equipment manufacturers, filed on Thursday with the SEC to raise up to $100 million in an initial public offering. The Livonia, MI-based company was founded in 1993 and booked $1.6 billion in sales for the year ended December 2009, down 25% from the previous year ($2.2 billion). Tower was bought out of bankruptcy by private equity giant Cerberus Capital Management in 2007 for roughly $1 billion. Goldman Sachs and Citi are the lead underwriters on the deal, for which pricing terms and timing were not disclosed.
