Weston Presidio-backed RE/MAX eyes $100m IPO

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real estate_lrgPrivate equity-backed real estate brokerage franchise RE/MAX has filed to raise up to $100m via an IPO.

The timing, number of shares to be offered and the price range for the offering have not yet been determined according to a statement issued by the company.

RE/MAX is backed by private equity firm Weston Presidio, which invested in the company in June 2010.

Morgan Stanley, Merrill Lynch and JP Morgan are acting as underwriters for the IPO, the filing shows.

It adds that the company plans to spend $27.3m to buy HBN and Tails to reacquire its franchise rights in the Southwest and Central Atlantic regions of the US.

Other companies backed by Weston Presidio include IT staffing and consulting firm Digital Intelligence Systems, which raised a $20m Series C in September last year.

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