Emerge Energy sets terms for $150 million IPO
Emerge Energy Services, an LP formed by Insight Equity to own,
operate, and acquire diversified energy service assets, announced
terms for its IPO on Tuesday. The Southlake, TX-based company
plans to raise $150 million by offering 7.5 million shares at a
price range of $19 to $21. At the midpoint of the proposed range,
Emerge Energy would command a market value of $464 million.
Emerge Energy Services, LP, which was founded in 2012 and booked $957 million in sales for the 2012 fiscal year, plans to list on the NYSE under the symbol EMES. The company filed confidentially on 11/21/2012. Citi, BofA Merrill Lynch, J.P. Morgan and Wells Fargo are the joint bookrunners on the deal.