Carlyle-backed PQ Holdings files for a $450 million IPO
PQ Holdings, a global producer of silica-based inorganic chemicals, filed on Tuesday with the SEC to raise up to $450 million in an initial public offering. The Malvern, PA-based company, which was founded in 1831 and booked $1.1 billion in sales for the 12 months ended September 30, 2013, plans to list under the symbol PQH, but has yet to announce an exchange. BofA Merrill Lynch, Credit Suisse, J.P. Morgan, Barclays, Citi, Deutsche Bank, Goldman Sachs, Jefferies, and Morgan Stanley are the joint bookrunners on the deal. No pricing terms were disclosed.