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3i-backed Phibro Animal Health files for IPO

12 Mar 2014

stock brokerage market share listedPrivate equity-backed animal health and mineral nutrition products maker Phibro Animal Health has filed for an IPO on the Nasdaq exchange.

The company, which is backed by UK private equity firm 3i, said it has not yet determined the number of shares to be offered and the price range.

It said that the Bendheim family will not sell any of its shares in the IPO and will remain a controlling shareholder in the company, while 3i and Mayflower Limited Partnership will reduce their stakes.

BofA Merrill Lynch, Morgan Stanley and Barclays Capital are acting as underwriters for the IPO.

Last month it was reported that 3i was preparing to sell German car parts maker Hilite International in a deal which could see the asset valued at more than €400m.

3i bought the business in 2011 for about $300m, and has hired Morgan Stanley to look at a potential sale or refinancing, according to a Reuters report.

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