KKR-backed Calisen to raise $1.87bn via IPO

The group is seeking to sell £408m's worth of shares. Calisen indicated it plans to float nearly 25% of the business at a price of 225-265 pence per share, according to Reuters. It also has an option to sell an additional 3.75% of the company.

Calisen announced its intention to float on the London Stock Exchange on 9 January 2020.

KKR wholly acquired Calvin Capital in 2016 for an equity value of £400-500m, according to Unquote sister publication Mergermarket. Calisen is made up of Calvin Capital and Lowri Beck, an installation, meter reading and maintenance services provider.

For the nine-month period to 30 September 2019, Calisen posted an operating profit of £24.6m on a consolidated revenues of £148m.

Citigroup, Credit Suisse, HSBC Bank, Barclays Bank, Goldman Sachs and KKR Capital Markets have been hired as joint bookrunners, Reuters reported.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• UK / Ireland
• Industrials
• United Kingdom
• KKR
• Citigroup
• Credit Suisse
• HSBC
• Barclays
• Goldman Sachs
• IPO