Cosmetics IPO Filing: Physicians Formula
Physicians Formula Holdings filed for an IPO on Friday, and it was given a proposed stock ticker of "PHYS". The company is a designer and maker of everyday women's cosmetics, The California-based company sells its products to customers such as Wal-Mart, Target, CVS and Walgreens. Duetsche Bank and Citigroup are set to act as the joint book runners for the deal, and the co-managers are listed as Bank of America, Cowen & Co, and Piper Jaffray. Terms were not yet formalized, so stay tuned in the coming weeks. The company appears to be profitable and more information can be found at the www.physiciansformula.com website. The company has decent traction in its market, but it is not considered one of the ultra-premium brands as they are not currently entrenched into department stores. There is not a backdoor investment play on the company per-se, and Summit Partners holds about 76% of the stock before the IPO.