Gardner Denver Gearing Up To Go Public
08 March 2017
Gardner Denver Holdings Inc., has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) to propose its initial public offering of its common stock.
The number of shares offered, the price range and stock exchange listing for the proposed offering have not been determined. According to a Reuters report, the company could be worth US$6 billion to US$7 billion (debt included) based on the IPO. Gardner Denver, a manufacturer of industrial compressors, pumps and other equipment, is expected to use the net proceeds from the offering for repaying indebtedness.
According to Reuters, KKR & Co., a private equity firm, acquired the company for US$3.74 billion in 2013. Nearly two years later, Gardner Denver relocated its company headquarters from Wayne, Pennsylvania, U.S.A., to Milwaukee, Wisconsin.
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