Private equity firm Crescent Capital Partners has appointed investment banks Citi and Deutsche Bank to float its ArcPac Building Products business.
Private equity firm Crescent Capital Partners has appointed investment banks Citi and Deutsche Bank to float its ArcPac Building Products business, sources told Street Talk on Tuesday.
ArcPac, which includes Crescent's louvre windows business Breezeway, interior panels company Prime Panels and garage door manufacturer Steel-Line, is expected to seek an initial public offering later this year.
Some fund managers will be familiar with the business - Crescent tested the market for ArcPac's float in the second half of 2014, but opted to retain the company.
The mandate continues a good run for Citi, having also been mandated to float Scottish Pacific this week, while Deutsche Bank continues to prepare the petrol station property trust owned by Viva Energy for the ASX-boards.
ArcPac also shapes as Crescent's first IPO since listing Metro Performance Glass in 2014. It also floated Cover-More and Lifehealthcare Group in 2013.
