Fenix Parts, a recently formed rollup of eight recycled auto parts providers, announced terms for its IPO on Friday.
The Miami, FL-based company plans to raise $110 million by offering 11.0 million shares at a price range of $9 to $11. At the midpoint of the proposed range, it would command a fully diluted market value of $166 million.
Fenix Parts, which was founded in 2014 and booked $108 million in pro forma sales for the fiscal year ended December 31, 2014, plans to list on the NASDAQ under the symbol FENX. BMO Capital Markets and Stifel are the joint bookrunners on the deal. It is expected to price during the week of May 11, 2015.
