Vacuum Pump Maker Files for IPO
In the filing, the company listed cash of £91.8 million ($148.1 million), total liabilities of £754.7 million ($1,217 million) and loans of £456.3 million ($736.0 million). In April 2011, Edwards withdrew its application for a £350 million ($565 million) UK IPO due to an expected low offering price. Private equity firms CCMP Capital and Unitas International are the primary shareholders.
Washington, DC 3/21/12—Edwards Group, a British manufacturer of vacuum products and abatement systems, has filed with the SEC for a US IPO to raise $150 million. The company provides dry pumps, turbomolecular pumps and other vacuum pumps. Vacuum pumps are used in scientific instruments, such as MS systems and electron microscopes, to create a high-vacuum environment. The company lists among its customers Agilent Technologies and Waters. In 2011, Edwards revenues grew 9.3% to £700.5 million ($1,130 million = £ 0.62= $1), and operating profit rose 34.7% to £102.3 million ($165 million). Adjusted operating profit increased 5.3% to $126.0 million. By business, Semiconductor revenue grew 7.9% to 36% of revenues, General Vacuum sales rose 20.9% to 25% of sales, Emerging Technologies sales increased 4.2% to 17% of revenues, and Service revenue grew 4.3%. Edwards will list on the NASDAQ Stock Exchange under the symbol EVAC.

