Interline Files for IPO

On June 15, Jacksonville, FL-based maintenance, repair, and operations marketer Interline Brands filed for an initial public offering with the Securities and Exchange Commission.

According to a release, Interline Brands will use the proceeds to repay debt, make cash payments in respect of Interline brands preferred stock, and terminate the interest rate swap agreements of Interline Brands. Any remaining proceeds will be used for general corporate purposes. The registration statement did not include an offering price range or numbers of share to be sold.

Interline’s catalog titles include Wilmar, Barnett, and Sexauer. It posted $638.8 million in sales for 2003, down slightly from $642.6 million in sales for 2002. The IPO will be underwritten by Credit Suisse First Boston and Lehman Brothers.

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