Luxury Retailer Going Public Next Year

An article from Reuters points out that Restoration Hardware is going public next year, just a couple of years after it was purchased by a group of private equity firms. Private equity firms Catterton Partners and Tower Three Partners LLC, along with the company's CEO Gary Friedman, purchased a controlling stake the company, and eventually took it private in June 2008. Restoration Hardware had agreed in November 2007 to be taken private for $6.70 per share, but was subsequently sold for $4.50 after the markets started to deteriorate. This happened two months later. Sears Holdings Corp SHLD had also expressed interest in the company, making an offer for it. Restoration Hardware, seems to be catering towards a higher-end customer, with its products, such as hand-crafted oak tables and linen-upholstered chairs. Bank of America and Goldman Sachs are slated to be the lead underwriters on the deal. It is expected the company will trade on the NYSE, after having been previously listed on the NASDAQ. Restoration Hardware is expected to raise between $100-$300 million, giving it a market capitalization of approximately $1 billion.