Associated Materials Planning IPO
Alside Window Systems parent Associated Materials Group Inc. has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock. The company intends to use proceeds from the offering to pay off certain debts.
The number of shares to be offered and the price range for the offering have not yet been determined, but an Associated Press report puts a $100 million value on the IPO. The same report indicates that the manufacturer and distributor of residential building products reported a loss of $38.4 million on $1.14 billion in revenue last year, but the recovery in the housing market is expected to increase its sales and return it to profitability.
Based in Cuyahoga Falls, Ohio, Associated Materials was acquired by private equity firm Hellman & Friedman LLC in 2010.