YuMe Leads This Week’s Slate of 10 Planned IPOs

MiX Telematics, Cvent could be hot transactions, too

     

Last week, the IPO market continued its winning ways. Six companies pulled off deals — two of which were slightly in the red, but the other four of which posted double-digit positive returns, including Sprouts Farmers Market (SFM), which more than doubled.

Here’s a rundown:

Company Ticker Return (from IPO price)
Sprouts Farmers Market SFM +122.1%
Athlon Energy ATHL +38.7%
Control4 CTRL +25.3%
Marrone Bio Innovations MBII +14.6%
Ardmore Shipping ASC -1.8%
American Homes 4 Rent AMH -1.1%

For the current week, the activity will ramp up even more – that is, 10 deals are expected to hit the market. So let’s take a look at each:

Cvent

Cvent operates a cloud platform that helps manage events, such as conferences and tradeshows. Some of the features include venue selection, proposals, member surveys, social media promotion, fee collection, logistics (travel and lodging) and mobile apps.

The company also has a marketplace that matches event planners with companies that want to put on an event. Customers include biggies like Visa (V), Walmart (WMT), Hilton and Marriott (MAR).

In 2012, Cvent improved its revenues 37% year-over-year to $83.5 million, helping to produce $20.3 million in adjusted EBITDA and $4.3 million in net income.

Cvent plans to issue 5.6 million shares on the New York Stock Exchange under the ticker “CVT” at a range of $17 to $19. Lead underwriters include Morgan Stanley (MS) and Goldman Sachs (GS).

Fox Factory Holding

Fox Factory develops high-performance suspension products, such as for mountain bikes, side-by-sides, off-road vehicles and trucks, ATVs and snowmobiles. The products are often used by top professional athletes in events like the UCI Mountain Bike World Cup and the X Games.

Growth has been solid. Revenues jumped from $131.7 million in 2008 to $235.9 million in 2012, with net income improving 270% to $14.2 million in that time.

Fox Factory intends to issue 8.6 million shares on the Nasdaq under the ticker “FOXF” at a range of $13 to $15. Lead underwriters include Baird, William Blair and Piper Jaffray (PJC).

Frank’s International

Founded 75 years ago, Frank’s International is a global leader for engineered tubular services to the oil and gas industry. These involve managing and installing multiple joints of pipe to establish cased wellbores, which provide a conduit for oil to reach the surface. The technology is highly sophisticated, especially in offshore environments, and is based on 104 U.S. patents and 136 related international patents.

Customers include BP (BP), Chevron (CVX), Exxon Mobil (XOM), Statoil (STO) and Saudi Aramco. They helped drive 2012 revenues that grew by 43% to $1 billion and adjusted EBITDA that jumped by 79% to $446.6 million.

The deal will be a large one, as Frank’s plans to issue 30 million shares on the NYSE under the ticker “FI” at a range of $19 to $21. Lead underwriters include Barclays (BCS), Credit Suisse (CS) and Simmons & Co.

Independence Realty Trust

Independence Realty Trust is a real estate investment trust that owns a portfolio of apartment properties. In all, they include 2,004 units in Arizona, Colorado, Georgia, Indiana, Texas and Virginia. As for the occupancy rate, it is a healthy 94%.

In 2012, revenues were $16.6 million, just less than double the amount a year earlier. Net income went from a loss of $370,000 to a gain of $856,000. Although, a big part of the top-line growth was from acquisitions.

Independence Realty Trust intends to issue 4 million shares on the NYSE under the ticker “IRT” at a range of $10 to $11. Lead underwriters include Ladenburg Thalmann & Co., William Blair, JMP Securities and Compass Point.

Intrexon

Intrexon focuses on synthetic biology, which applies engineering principles to biological systems. The technology helps improve the quality and productivity of food crops and livestock, and can be used to develop new forms of alternative energy.

The company still is in the early stages. From 2011 to 2012, revenues grew from $8.2 million to $13.9 million, while the net loss went from $99 million to nearly $104 million.

Intrexon plans to issue 8.3 million shares on the NYSE under the ticker “XON” at a price range of $14 to $16. Lead underwriters include JPMorgan (JPM) and Barclays.

 
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