Window maker Atis Group is planning to go public, the latest IPO from a company that's backed by a private equity fund.
Montreal-based Atis is controlled by Key Principal Partners, a Cleveland-based fund that was spun out of KeyCorp bank. Atis made $10.9-million on sales of $182-million in 2009.
Scotia Capital is leading the underwriting. Atis is hoping to raise $120-million, with most of the cash raised in a financing earmarked for building the company. Marketing road shows are expected to kick off in mid-June.
Atis joins a lineup of private equity-backed companies that are looking to go public, with Porter Aviation at the front of the queue. Onex is also in the IPO lineup, with plans to take portfolio company Tube City steel services public on a U.S. exchange.