LINC Logistics IPO shares prices, stock symbol

LINC Logistics IPO shares prices, stock symbol, LINC Logistics IPO file prospectus, LINC IPO april 26 2012 : LINC Logistics Company, which offers supply chain logistics services primarily to the US auto industry, announced terms for its IPO on Thursday. The Warren, MI-based company plans to raise $170 million by offering 11.3 million shares (13% insider) at a price range of $14 to $16. At the midpoint of the proposed range, LINC Logistics Company would command a market value of $462 million.

LINC Logistics Company, which was founded in 1992 and booked $291 million in sales for the 12 months ended 12/31/2011, plans to list on the NASDAQ under the symbol LLGX. Citi and Stifel Nicolaus Weisel are the joint bookrunners on the deal.

Citigroup and Stifel, Nicolaus & Company are acting as the joint book-running managers and representatives of the underwriters for the LINC Logistics IPO. RBC Capital Markets, Robert W. Baird & Co, Comerica Securities andThe Huntington Investment Company are also involved in the deal. The underwriters have been granted an option to purchase up to 1.7 million additional shares of common stock to cover over-allotments.

The net proceeds received from the LINC Logistics IPO will be used to repay senior secured term loan, financing and credit facilities, cash dividend and for working capital and general corporate purposes.

LINC Logistics, incorporated in Michigan on March 11, 2002, is a leading provider of custom-developed third-party logistics solutions. The company offers a comprehensive suite of supply chain logistics services and transportation services.

According to the regulatory filing, the company generated revenues of $177.9 million, $245.8 million, and $290.9 million for the years ended December 31, 2009, 2010 and 2011, respectively. Net income for the three years was $14.9 million, $33.0 million and $35.6 million, respectively.

For the fiscal year ended December 31, 2011, 79.2% of the company’s revenue was derived from customers in the North American automotive industry, including 63.7% from affiliates of Ford, General Motors and Chrysler. The company grew revenues in sectors outside of automotive from $22.4 million for the year ended December 31, 2007 to $60.4 million for the year ended December 31, 2011. For the year ended December 31, 2011, the non-automotive business represented 20.8% of total revenues.

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