Aptalis files for $500M IPO


CF and GI-focused Aptalis Holdings (APTA) (formed when TPG merged Axcan with Eurand two years ago) files for a $500M IPO.

TPG acquired the company in 2008 and has a 91% stake.

The PE firm attempted to sell the company for $3-4B in October, a bid that ultimately failed.

Sales rose ~12% to $667M in the year ended September 30.

Net income for the year came in at $87M ($1.26 per share) versus a net loss of $12M in 2012.

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