Cabinet manufacturer Norcraft Companies sets terms for $100 million IPO
Norcraft Companies, which is a leading manufacturer of kitchen
and bathroom cabinetry in the US and Canada, announced terms for
its IPO on Monday. The Eagan, MN-based company plans to raise
$100 million by offering 5.9 million shares at a price range of
$16 to $18. At the midpoint of the proposed range, Norcraft
Companies would command a fully diluted market value of $311
Norcraft Companies, which was founded in 1966 and booked $330 million in sales for the 12 months ended September 30, 2013, plans to list on the NYSE under the symbol NCFT. Norcraft Companies initially filed confidentially on July 30, 2013. Citi, UBS Investment Bank, Deutsche Bank and RBC Capital Markets are the joint bookrunners on the deal.