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• Acelity: $1 billion IPO Withdrawn
• 08/12/2016
• 
           Acelity Holdings Inc., an LBO'd provider of advanced wound care systems and tissue implants, withdrew its plans for an initial public offering on Wednesday, citing market conditions. It originally filed in August 2015 with a proposed deal size of $1.0 billion.
           In September, the company's CFO resigned to join LendingClub as CFO.
           The San Antonio, TX-based company was founded in 1976 and booked $1.9 billion in sales for the 12 months ended June 30, 2015. It had planned to list on the NYSE under the symbol ACEL.RC., J.P. Morgan, Goldman Sachs, BofA Merrill Lynch, Morgan Stanley, Barclays, Credit Suisse, RBC Capital Markets and UBS Investment Bank were set to be the joint bookrunners on the deal.
           Acelity Holdings said it decided to shelve the IPO “in light of current public market conditions,” according to a filing with the Securities and Exchange Commission late Wednesday afternoon.
           In a statement, Acelity CEO and President Joseph Woody said, “We have recently completed significant refinancing of long term debt which enables us to be patient as we execute on this long term strategy. The IPO market in the U.S. has been challenging over the past year and the SEC asked us to withdraw our IPO registration statement as an administrative matter.
           “We will continue to evaluate opportunities to approach the IPO market as it evolves,” he added.
           It has been nearly 16 months since Acelity Holding filed the paperwork to go public. Almost three months after it filed the August 2015 registration statement detailing the offering, Acelity filed an amendment saying it was seeking to raise as much as $1 billion. The initial figure was $100 million.
           Under the IPO, Acelity Holdings was slated to replace Acelity LP as the holding company for the wound-care and regenerative-medicine businesses. The company owns Kinetic Concepts Inc., which specializes in negative-pressure wound therapy; KCI subsidiary Systagenix Wound Management Ltd., a maker of wound dressings; and LifeCell Corp., which makes products used in breast construction and hernia repair.
  
           References:
           http://www.nasdaq.com/article/wounded-in-action-acelity-holdings-withdraws-10-billion-ipo-cm718344
           http://www.expressnews.com/business/local/article/Acelity-ditches-plans-for-IPO-10783328.php