Bauer Performance Sports Ltd. revealed plans Friday to become a publicly traded company by selling shares on a Canadian stock exchange. The the hockey powerhouse was sold by Nike Inc. to a private-equity group three years ago and now also owns Mission-Itech and Maverik Lacrosse.

In the preliminary prospectus filed to SEDAR, the Canadian document filing system for companies, Bauer said it would use the proceeds to buy out the 100% stake of Kohlberg Sports Group Inc., affiliated with the Kohlberg & Co private equity group, for an unspecified amount. The filing did not indicate when the offering might launch, the number of shares to be sold, or the projected pricing range.

However, sources with knowledge of the offering told Reuters that Bauer would list a 20% stake on the Toronto Stock Exchange, valuing the company around C$375 million (U.S. $375 million). The IPO itself is looking to raise at least C$75 million.
An investor group led by Kohlberg & Co and Canadian businessman W. Graeme Roustan acquired Bauer Hockey – renamed Bauer Performance Sports for the IPO – from Nike in May 2008 for $200 million in cash. Bauer has since acquired Mission-Itech Hockey in September 2008, the intellectual property assets from Jock Plus Hockey in November 2009, and Maverik Lacrosse in June 2010.

Nike bought Bauer from Canstar Sports Inc. in 1995 for $395 million.

According to the prospectus, Bauer's revenues grew to $257.4 million in its fiscal year ended May 31, up from $242.2 million in 2009 and $219.5 million in 2008. Net earnings reached $2.2 million in the fiscal year ended May 2010 against a loss of $19.4 million in fiscal 2009. Adjusted EBITDA improved to $31 million in its May 2010 fiscal year, up from $27.3 million the prior year.