What is the expected size of the O’Gara Group IPO?
The O’Gara Group IPO is expected to raise around 173 million USD from the initial Public offering.
Where will the fund raised through O’Gara Group IPO be used?
The capital raised through O’Gara Group IPO will be used mainly for aquisitions with an aim to increase its size to 4 times. There are 3 major acquistions planned totalling around 232 million USD. Apart from the 173 million USD IPO, the remaining amount will be a mix of cash raised, stocks and debt.
What are the 3 companies to be acquired by O’Gara Group IPO?
As per the news, O’Gara plans to pay $165 million for Italian company Isoclima, a maker of vehicle armor and transparent glass that generates about $100 million in annual sales. It agreed to pay $36 million for Monterrey, Mexico-based TPS Armoring, which makes vehicle armoring systems and cranked out $30 million in revenue last year. And it will pay $31 million for Freeport, Pa,-based OmniTech, a maker of night-vision weapon sights and other military optical systems that made had $13 million in sales last year and will become part of O’Gara’s sensor systems unit. All three are profitable through the first six months of the year.
What will be the effect of these acquisition by the O’Gara Group ?
The acquisitions will expand O’Gara from a company that had $38 million in revenue last year to a near-$200 million-in-sales company. The combined companies generated $180 million in sales last year and are on pace to top $200 million through the first six months of this year. They also would have made a net profit of $3.7 million through the first half of this year, according to pro forma financial figures included in the filing. That’s a big improvement on O’Gara’s stand-alone results. It lost $1.4 million last year and $1 million through the first half of this year. It hasn’t made a profit since 2005.
What are the business valuations of the O’Gara Group?
The O'Gara Group is a leading provider of advanced security products and training solutions to aid in the global war on terrorism and to enhance customer security. Founded in 2003, current customers include the United States Special Operations Command (USSOCOM) and the United States Marine Corps (USMC), the United States Departments of State, and Homeland Security, as well as foreign customers including the Canada Ministry of Defense, the Italian Ministry of Defense, the Taiwan Ministry of Defense, and the U.K. Ministry of Defense, law enforcement agencies, and private corporations and individuals.
Which stock exchange will the shares of O’Gara Group IPO be listed on?
O’Gara Group IPO shares will trade on NASDAQ under the ticker symbol OGAR.
Who are the lead underwriters of the O’Gara Group IPO issue?
O’Gara enlisted Memphis based investment banker Morgan Keegan & Co. as its lead underwriter. BB&T Capital Markets, Oppenheimer & Co., Raymond James & Associates Inc. and Stifel, Nicolaus & Co. are also participating as underwriters in the O’Gara Group IPO issue
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