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From Home Furnishing Business

Bain Capital, Oaktree Capital Explore IPO for International Market Centers

Bain Capital and Oaktree Capital Group are looking to an initial public offering for International Market Centers, the owner of the Las Vegas Market and numerous prime showroom buildings in High Point, according to the Wall Street Journal.

Bain Capital LLC and Oaktree Capital Group LLC are exploring an initial public offering for International Market Centers LP, which rents out showroom space to home furniture and décor companies, according to sources familiar with the matter.

IMC is working with banks including J.P. Morgan Chase & Co., Deutsche Bank AG, Credit Suisse Group AG, and Barclays PLC on the IPO, the people familiar with the matter said. The listing, which could come later this year or early next year, may give the Las Vegas-based company a stock-market value of more than $1 billion, some of the people said.

IMC is seeking to raise $530 million in loans to refinance existing debt and provide working capital to the company, according to marketing documents reviewed by the Wall Street Journal. Some of the loans have a special provision allowing them to be repaid in full if the company completes an IPO.

Read Entire Story  Source: The Wall Street Journal 

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Robert Mark    7 years ago

Well instead of being President, Mitt continued on his business ventures of "A sucker Is Born Every Minute". I see nothing but a bright future for showrooms for an industry that self destructed itself along with destructing the independent dealer base that these showrooms are supposed to serve. Let's not forget that Bain and Oaktree are considered people by the Supreme Court. The only trouble is that they never seem to go to jail for suckering the stupid investors. Anyone who thinks the High Point part of this makes sense in 2014 is living in Back To The Future.
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