Talecris, a fast-growing provider of plasma-based protein therapies, plans to go public with a target of $1 billion.
Late Friday, Talecris filed its plans for an initial public offering with the Securities and Exchange Commission. It set a target of $1 billion but did not specify the number of shares to be sold nor did it list a target price. No date was set, either.
However, Talecris did point out it has plans for continued growth.
“Our business requires substantial capital and operating expenditures to operate and grow,” the company said in its filing.
“We plan on spending substantial sums in capital and operating expense over the next five years to obtain FDA approval for new indications for existing products, to enhance the facilities in which and processes by which we manufacture existing products, to develop new product delivery mechanisms for existing products, to strengthen our plasma collection system and to develop innovative product additions,” it added.
The privately held company, which is based in RTP and has a major production plant, in Clayton, has lined up three prestigious Wall Street firms to handle the IPO: Morgan Stanley, Goldman, Sachs & Co., and JP Morgan.
Talecris reported more than $1 billion in revenues in 2006. The company was formed in 2005 when Bayer sold off the plasma units that now form the core business of Talecris.
The company’s growth has been rapid. In 2006 it launched subsidiaries in Canada and Germany. Talecris also launched a subsidiary that operates plasma collection centers. That group operates 26 centers that has been licensed and has 20 others yet to be licensed.
Total employee count is more than 3,000.
Cerberus Capital Management, which is based in New York, and Ampersand Ventures, which is based in Massachusetts, are the two largest shareholders in Talecris.