Bruker Energy & Supercon Files for IPO
BEST sells low-temperature superconductors (LTS) to MRI and NMR manufacturers, including Agilent. The MRI and NMR markets made up 75% and 25% of LTS sales in 2009, respectively. The medical imaging and life science analytics market accounted for 60% of BEST’s 2009 sales. The “big science research” market, to which BEST sells superconductors, magnets, accelerators and beamline technology, represented 37%. Sales to Bruker affiliates made up 14%.
Billerica, MA 9/3/10; Washington, DC 9/3/10—Bruker Energy & Supercon Technologies (BEST), a subsidiary of Bruker, has filed an S-1 registration statement with the SEC for an IPO. Following the stock offering, Bruker will retain a controlling stake. BEST develops, manufactures and markets superconducting materials, ceramic high-temperature superconductors, non-superconducting Cuponal materials and wires, and devices, such as superconducting magnets, radio frequency accelerator cavities and modules, and X-ray beamlines. BEST revenues grew 36.0% last year to $60.1 million. BEST’s four primary markets are renewable energy, energy infrastructure, medical imaging and life science analytics, and “big science research,” according to the filing. The number of shares to be offered and price will be announced at a later date.
