North American private equity firms Carlyle and Onex are readying Allison Transmission, a producer of automatic transmissions for large vehicles, for an IPO in the third quarter of this year, according to Reuters.
In the latest sign of the improving health of the US auto industry following General Motors’ $23bn New York listing in November 2010, Allison is expected to raise around $1bn in the listing.
It would also be the latest in a series of US IPOs for private equity-backed companies, which have included hospital chain HCA, which filed for a $4.3bn IPO this week, a $1.15bn listing by US microchip manufacturer Freescale Semiconductor and the $1.5bn IPO of consumer marketing data agency Nielsen .
Allison manufactures automatic transmission systems for fire trucks, school buses and military vehicles. Carlyle and Onex acquired the company from General Motors in June 2007 for around $5.6bn
Carlyle portfolio company Dunkin’ Donuts announced a partnership with Indian company Jubilant Foodworks this week, with plans for an aggressive campaign of expansion into the country that could see over 500 fast food restaurants rolled out across India.
Onex announced today that it had lost CAN$3m ($3.06m) in the fourth quarter of 2010, compared with a $40m profit in the fourth quarter 2009.
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