Advent-backed BOS Solutions files for IPO

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By Ted Liu

BOS Solutions Holdings Inc., a leading North American provider of customizable and scalable liquids-solids separation services, has filed for proposed initial public offering and secondary offering by Advent International, a global private equity (PE) firm.

The offering is being underwritten by CIBC World Markets Inc. and BMO Nesbitt Burns Inc. Norton Rose Fulbright Canada LLP and Blake, Cassels & Graydon LLP acted as legal counsels to BOS and the underwriters respectively.

Founded in 2001, BOS Solutions operates throughout Canada and the United States of America with physical locations in Alberta, Ontario, Texas, North Dakota, Pennsylvania, Colorado, and Alaska. BOS Solutions has over 300 employees including contractors. BOS is headquartered in Calgary with a US corporate office in Houston, Texas.

Advent International acquired BOS Solutions Ltd. in November 2010.

Advent International, through Advent Calgary (Luxembourg) S.à.r.l., controls 96.3% of BOS outstanding shares.

BOS Solutions is the third Calgary based PE backed oil and gas services company that filed for IPO within last two months

TriWest Capital Partners backed Source Energy Services filed for a $300 million IPO and secondary offering and ARC Financial controlled STEP Energy Services filed for IPO and secondary offering, both in February 2017.

UPDATED (April 17, 2017):

>> Advent owned BOS Solutions to raise $90M in IPO

photo credit: BOS Solutions