| Ticker: TBW | 440 North Fifth Avenue | |
| Exchange: New York Stock Exchange | Chambersburg, Pennsylvania 17201 | |
| Industry: Manufacturing | (717) 264-7161 |
| Type of Shares: | Common Shares | Filing Date: | 9/1/95 | |
| U.S. Shares: | 2,750,000 | Offer Date: | 2/8/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $13.00 - $16.50 | |
| Primary Shares: | 1,873,183 | Offer Price: | $12.00 | |
| Secondary Shares: | 876,817 | Gross Spread: | $0.84 | |
| Offering Amount: | $40,562,500 | Selling: | $0.50 | |
| Expenses: | $750,000 | Reallowance: | $0.10 | |
| Shares Out After: | 5,750,000 |
| Manager | Tier | Phone |
| CS First Boston | Lead Manager | (212) 909-3312 |
| Smith Barney Inc. | Co-manager | (718) 921-8473 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/94 | 9/30/95 | 9/30/94 | 9/30/95 | ||
| Revenue: | $95.30 | $77.80 | $70.70 | Assets: | $64.60 |
| Net Income: | $3.90 | $3.40 | $2.90 | Liabilities: | $73.30 |
| EPS: | $1.04 | $0.88 | $0.79 | Equity: | -$8.70 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is an established designer, manufacturer and marketer of electronic and mechanical industrial power transmission products. The Company's products are sold to North American and international manufacturers and users of industrial equipment. The Company's principal products have significant market positions in the United States and Canada and include electronic drives, integrated electronic drive systems, mechanical belted drives and flexible couplings. Management believes the "TB Wood's " name is well established in the power transmission industry. The Company's highly regarded brand names include Sure-Flex, Ultra-V, Formflex, E-trAC and QT Power Chain. The Company is recognized in the power transmission industry for its product quality, engineering support and superior customer service. Power transmission products such as the Company's are critical components in the operation of manufacturing and processing facilities and are used in both new equipment and in the periodic maintenance and upgrading of existing equipment. |
| Use of Proceeds |
| The company intends to use such net proceeds to repay approximately $9.5 million of borrowings under the company's secured credit agreement between the company and Fleet Capital Corporation, and to repay in full its senior subordinated promissory notes issued by the company to USL Capital Corporation, including fees related such prepayment. |
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