Auto parts maker Fox Factory files for IPO of up to $120 mln
July 8 (Reuters) - Auto parts maker Fox Factory Holdings Inc, backed by investment firm Compass Diversified Holdings , filed with the U.S. Securities and Exchange Commission to raise up to $120 million in an initial public offering of common stock.
Fox Factory, which makes high-performance suspension products used mainly on mountain bikes, snowmobiles and all-terrain vehicles, counts Polaris Industries Inc and Ford Motor Co as its major customers.
The Scotts Valley, California-based company told the SEC that Baird, William Blair and Piper Jaffray were underwriting the IPO. The company intends to list its common stock on the Nasdaq Global Select Market under the symbol "FOXF".
The preliminary prospectus did not reveal how many shares the company planned to sell or their expected price. ()
Fox Factory, which reported a profit of $14.2 million on revenue of $235.87 million in 2012, said it would use net proceeds from the offering to repay debt.
Compass owns about 76 percent of Fox which it bought in 2008.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.