Taylor & Martin Group sets terms for $165 million IPO
Taylor & Martin Group, which provides marketplaces and auction solutions for the liquidation of pre-owned capital assets, announced terms for its IPO on Thursday. The Houston, TX-based company plans to raise $165 million by offering 15 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Taylor & Martin Group would command a fully diluted market value of $341 million. Taylor & Martin Group, which was founded in 2011 and booked $139 million in sales for the 12 months ended 6/30/2012, plans to list on the NYSE under the symbol TMG. Canaccord Genuity, Oppenheimer & Co., and KeyBanc Capital Markets are the joint bookrunners on the deal.