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Emerge Energy sets terms for $150 million IPO

By: Renaissance Capital
Posted: 4/30/2013 4:35:00 PM
Referenced Stocks: EMES

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.