NuCO2 IPO watch: The company submitted an application to request to withdraw its IPO registration statement on Form S-1.
The company intended to trade its common shares on the New York Stock Exchange under the symbol “NUCO” and raised funds of $200 million at most in its public offering. UBS Securities LLC and Goldman, Sachs & Co. are acting as the representatives of the underwriters of NuCO2 IPO. UBS Securities LLC, Goldman, Sachs & Co. and J.P. Morgan Securities LLC are the joint book-running managers of NuCO2 IPO.
NuCO2 Inc is a national provider of fountain and draught beer beverage carbonation solutions to the restaurant and hospitality industry via long-term agreements. For the fiscal year ended June 30, 2010, the company generated revenues of $167.7 million, Adjusted EBITDA of $65.3 million and operating income of $26.3 million, representing compound annual growth rates of 11.5%, 12.2% and 6.9%, respectively, compared to the previous year. For the three months ended September 30, 2010, the company recognized revenues, Adjusted EBITDA and operating income of $47.1 million, $18.9 million and $9.4 million, respectively, representing growth rates of 11.1%, 12.2% and 28.1%, respectively, compared to the same period a year ago.