Norcraft Companies Files For $100 Mln IPO

(RTTNews) - Norcraft Companies, Inc., a manufacturer of kitchen and bathroom cabinetry in the U.S. and Canada, announced its plan for an initial public offering of up to $100 million of its common stock.

The company was founded as Marshall Millworks, Inc. in 1966 as a single millwork manufacturing facility in Marshall, Minnesota and subsequently changed its name to Norcraft Companies.

As of and for the twelve-month period ended June 30, 2013, the company reported net sales of $312.7 million, adjusted EBITDA of $37.1 million, a net loss of $6.0 million and had total indebtedness of $240.0 million. Mark Buller is the chairman and chief executive of the company.

Norcraft Companies intend to apply to have its common stock listed on the New York Stock Exchange under the symbol "NCFT".

The company's competitors include American Woodmark Corp. (AMWD), Fortune Brands Home & Security, Inc. (FBHS) and Masco Corp. (MAS) as well as a large number of smaller manufacturers.

The company has seven main brands, including Mid Continent Cabinetry, Norcraft Cabinetry, Brookwood Cabinetry, Fieldstone Cabinetry, StarMark Cabinetry, UltraCraft, and Urban Effects.