Advent owned BOS Solutions to raise $90M in 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 an amendment to its proposed initial public offering and secondary offering upon exercise of over-allotment option by Advent International.

BOS Solutions Holdings intends to raise $90 million at a price between $11.00 and $14.00 per common share.

The offering is being underwritten by CIBC World Markets Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., AltaCorp Capital Inc., HSBC Securities (Canada) Inc., Peters & Co. Limited and Raymond James Ltd.

Norton Rose Fulbright Canada LLP and Blake, Cassels & Graydon LLP are acting as legal counsels to BOS and the underwriters respectively.

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.

Upon completion of the offering, BOS Solutions will have between 19,237,191 and 20,990,438 common shares outstanding, with Advent continuing to control 56% of the outstanding shares (assuming full exercise of the over-allotment option)

Advent-backed BOS Solutions files for IPO

photo credit: BOS Solutions