Fox Factory Holding Corp. has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock.
While Fox has not yet determined the size of the offering, it plans to use proceeds first to extinguish an existing credit facility of $52.9 million provided by its parent company, Compass Diversified Holding Inc. Robert W. Baird & Co. Incorporated, William Blair & Company, L.L.C. and Piper Jaffray & Co. will act as joint book-running managers for the proposed offering.
Fox designs, manufactures and markets high-performance suspension products used primarily on mountain bikes, side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles. In 2012, the company earned income before taxes of $22.4 million on sales of $235.9 million.
Fox is currently owned by Compass Diversified Holdings Inc. (CODI), a publicly traded company that acquired it in 2008. CODI specializes in buying, building and selling leading middle market companies and has since gone on to acquire Camelbak, ErgoBaby and Liberty Safe.
