Bain Capital’s sensor company Sensata files for $500m IPO
Sensata Technologies, a Dutch manufacturer of sensors and controls owned by US private equity firm Bain Capital, has filed for an initial public offering of up to $500m, according to Reuters. The company, which reportedly filed on Wednesday, is planning to list on either the New York Stock Exchange or Nasdaq.
The company is reportedly floating because of term loan facilities due in April 2013 and other debt repayments due in 2014.
Sensata produces sensors and controls used in aircraft, automobiles and electric motors. It has a strong presence in emerging markets including China and Malaysia, which have been driving demand for sensor technology, according to the company. Bain acquired the company in 2006.
Sensata recently reported revenues of $769.9m and a loss of $41.6m for the year to 30 September, a decrease of 31 per cent from $1.15bn during the corresponding period last year.
Headquartered in Boston, Bain has approximately $60bn in assets under management. The firm recently finalised the acquisition of Japanese telemarketing company Bellsystem24 in a 93.5bn yen ($1bn) deal.
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Private Equity News» By News Type» Deal News
Private Equity News» By PE Sector» Buy-out
Private Equity News» By Region» North America» United States
Private Equity News» By News Type» Deal News
Private Equity News» By PE Sector» Buy-out
Private Equity News» By Region» North America» United States
