AmeriQuest withdraws $75 million IPO

AmeriQuest, which provides financial process and procurement services for the transportation sector, withdrew its plans for an initial public offering on Friday. It had filed to raise $75 million but postponed its IPO in January.

The Cherry Hill, NJ-based company was founded in 1996 and booked $87 million in sales for the 12 months ended December 31, 2015. It had planned to list on the Nasdaq under the symbol AMQ. Raymond James and Stephens Inc. were set to be the joint bookrunners on the deal.