IPO Preview: Endeavor Group, FTC Solar And Several Medical Offerings Top The Week

This week’s IPO calendar has several offerings on the docket. Many of the names are unfamiliar to most investors but are in areas that could see growth.

FTC Solar: Solar tracker systems company FTC Solar FTCI plans to sell 18.4 million shares at a price between $18 and $20. The company offers proprietary software and engineering systems for solar trackers. The company’s Voyager brand has 11% market share in the United States.

FTC solar ended 2020 with $109 million in contracts and awarded orders. The company announced it gained an additional $227 million in contracts and orders from Jan. 1 through April 14. The company had revenue of $187.4 million in fiscal 2020, compared to $53.1 million in the prior fiscal year.

Aveanna Healthcare Holdings: Home care platform Aveanna Healthcare Holdings AVAH offers private duty nursing, enteral nutrition, therapy, personal care and home health & hospice care. The company operates in 30 states and has 245 branch locations.

Aveanna had revenue of $1.5 billion in fiscal 2020. Over the last five years, the company’s business has scaled 5x going growing from $324.6 million and 17 states. The company plans on offering 38.3 million shares at a price point of $16 to $18.

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The Fortegra Group: Specialty insurer The Fortegra Group FRF offers services in niche, specialty insurance markets in the U.S., warranty solutions in the U.S. and warranty solutions in Europe. The company plans to focus on niche, underserved specialty insurance business segments.

The Fortegra Group had revenue of $691 million in fiscal 2020. The company is a subsidiary of Tiptree TIPT and will be 82.7% owned and controlled by the company after the IPO. Fortegra is seeking to sell 8.3 million shares at a price point of $15 to $17.

Endeavor Group Holdings: Operating in the sports and content markets, Endeavor Group Holdings EDR is planning to sell 21.3 million shares at a price point of $23 to $24. The company owns the UFC, Professional Bull Riding and Euroleague Basketball brands, which made up 20% of 2019 revenue. Endeavor’s events, experiences and rights business is its largest segment making up 43% of 2019 revenue. The company’s representation segment made up 36% of 2019 revenue.

The company reported revenue of $4.57 billion in fiscal 2019 and $3.48 billion in fiscal 2020. Revenue was split 67% Americas, 29% EMEA and 4% APAC.

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Privia Health Group: National physician enabled company Privia Health Group PRVA plans to sell 19.5 million shares at a price point of $17 to $19. The company reported revenue of $817.1 million in fiscal 2020.

Privia Health has over 2,770 signed providers and serves over 3 million patients. The company serves six states and Washington D.C. with over 650 locations.