Doncasters Group has launched plans for an initial public offering that could raise as much as $746.7 million through the sale of 23.3 million shares priced between $28 and $32 per share.
At the top end of the range, the Derby, England-based manufacturer would command an equity valuation of approximately $4.43 billion. The company intends to use net proceeds from the offering to repay outstanding debt and other obligations, with remaining funds supporting working capital, potential acquisitions and growth initiatives. Doncasters Group manufactures precision-engineered parts for the aerospace, industrial gas turbine, and transportation markets. Its product portfolio includes structural castings, turbine airfoils and hot-side turbocharger wheels used in engines produced by CFM International, Pratt & Whitney and GE Aerospace. The company operates 14 principal manufacturing facilities across the U.K., Europe, North America and Asia.
Jefferies and Morgan Stanley are serving as lead underwriters for the offering, according to Bloomberg.