Bain’s Trinseo seeks $200m public listing


Bain Capital-backed materials company Trinseo is seeking to raise $200m through its recently announced IPO.

Bain Capital bought Trinseo, then known as Styron, from chemicals group Dow Chemical for $1.63bn in 2010.

In January Trinseo sold $1.3bn of high yield bonds to help pay down its debt.

According to its most recent quarterly results, the company saw revenue drop six per cent against the previous year to $1.245bn, though EBITDA grew 113 per cent to $104m.

The proceeds of the listing will go towards debt, working capital and “general corporate purposes”, the company said.

Trinseo previously planned a public listing in June 2011, but later withdrew.

Copyright © 2014 AltAssets