Advanced Disposal Services, a vertically integrated provider of solid waste collection, recycling and disposal services, announced terms for its IPO on Monday.
The Ponte Vedra, FL-based company plans to raise $450 million by offering 21.4 million shares (58% insider) at a price range of $20 to $22. At the midpoint of the proposed range, Advanced Disposal Services would command a fully diluted market value of $1.5 billion.
Advanced Disposal Services was founded in 2000 and booked $1.4 billion in sales for the 12 months ended September 30, 2015. It plans to list on the NYSE under the symbol ADSW. Deutsche Bank, Credit Suisse, Barclays, BofA Merrill Lynch, Macquarie Capital, Morgan Stanley and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price during the week of February 8, 2016.
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