Bright Horizons Family sets IPO price range at $19-$21/shr
Jan 14 (Reuters) - Bain Capital-backed Bright Horizons Family Solutions Inc, a child care and early education provider, said it expects to sell 10.1 million shares at between $19 and $21 each.
At the midpoint of this range, the IPO will raise $202 million. ()
Founded in 1986, Bright Horizons provides employer-sponsored child care and early education programs, and manages child care centers for companies, hospitals, universities and government agencies.
The Watertown, Massachusetts-based company, which has operations in North America, Europe and India, also offers college counseling and other services for working families.
The company plans to list its common stock on the New York Stock Exchange under the symbol "BFAM". Goldman Sachs, J.P. Morgan and Barclays are lead underwriters to the offering.
The company, which Bain Capital took private for $1.3 billion in 2008, had filed for an IPO with U.S. regulators in October.
The Massachusetts-based company will be selling all the shares in the IPO and plans to use the proceeds to repay debt and for working capital purposes.