Making a second attempt at a listing, private equity-backed SS&C Technologies Holdings Inc., a provider of financial services software, filed with regulators Monday, Dec. 28, to raise about $300 million in an initial public offering.
The Windsor, Conn.-based company did not disclose in its filing with the Securities and Exchange Commission details about how many shares it intends to offer, its price range or on which stock exchange it plans to list its shares.
An affiliate of Washington, D.C.-based private equity firm Carlyle Group LLC owns 72% of SS&C and William C. Stone, the company's chairman and chief executive, holds the balance. How many shares, if any, the shareholders will contribute to the offering was not revealed.
The company said it plans to use the offering proceeds to redeem all or a portion of outstanding 11 3/4% senior subordinated notes due 2013, for working capital and other general corporate purposes, including potential acquisitions.
Acquisitions are not new to SS&C, which has been buying heavily for the past year. Last month, SS&C bought for an undisclosed amount The NextRound Inc., a Framingham, Mass.-based software company serving private equity and other alternative investment firms.
In June, SS&C acquired the assets of Pennsylvania-based Unisys Corp.'s Maximis software, an investment accounting application designed to meet regulatory and management reporting needs of large finance and insurance companies, and public pension funds. And in March, SS&C acquired assets of Evare LLC, a financial services technology company. The financial terms of those deals were also not disclosed.
Underwriting the deal is J.P. Morgan & Co., Credit Suisse, Morgan Stanley and Deutsche Bank Securities. Jefferies & Co. and Raymond James are co-managers.
John A. Burgess, James R. Burke and Justin L. Ochs, of Wilmer Cutler Pickering Hale and Dorr LLP in Boston are providing the issuers with legal advice. Stuart M. Cable, Mark T. Bettencourt and Michael J. Minahan of Goodwin Procter LLP in Boston are representing the underwriters.
SS&C was founded in 1986 and completed an IPO in 1996. In 2005, the majority of the company was acquired by the Carlyle Group for $982 million. In April 2008, SS&C filed for a public offering but withdrew those plans in October as markets seized up.
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