CVC Capital Partners' Elster Group SE, which is a leading global provider of gas, electricity and water meters and associated software solutions, filed and announced terms for its IPO on Monday. The Germany-based company plans to raise $275 million by offering 16.2 million ADSs at a price range of $16-$18. At the mid-point of the proposed range, Elster Group will command a market value of $1.7 billion. Elster Group, which was founded in 2004 and booked $1.7 billion in sales for the 12 months ended June 30, plans to list on the NYSE under the symbol ELT. Deutsche Bank Securities, Goldman, Sachs & Co. and J.P. Morgan are the lead underwriters on the deal, which is expected to price during the week of September 27.
