| Ticker: SPH | One Suburban Plaza, 240 Route 10 West | |
| Exchange: New York Stock Exchange | Whippany, New Jersey 07981 | |
| Industry: Retail | (201) 887-5300 |
| Type of Shares: | Common Units | Filing Date: | 12/20/95 | |
| U.S. Shares: | 18,750,000 | Offer Date: | 2/29/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $20.00 - $21.00 | |
| Primary Shares: | 18,750,000 | Offer Price: | $20.50 | |
| Secondary Shares: | 0 | Gross Spread: | $1.32 | |
| Offering Amount: | $384,375,000 | Selling: | $0.80 | |
| Expenses: | $4,000,000 | Reallowance: | $0.10 | |
| Shares Out After: | 28,726,250 | |||
| Spin out parent firm: | Hanson plc | |||
| Manager | Tier | Phone |
| Smith Barney Inc. | Lead Manager | (718) 921-8473 |
| A.G. Edwards & Sons, Inc. | Co-manager | (314) 289-3000 |
| Dean Witter Reynolds | Co-manager | (212) 392-2222 |
| Goldman, Sachs & Co. | Co-manager | (212) 902-1172 |
| Lehman Brothers Incorporated | Co-manager | (212) 640-6129 |
| PaineWebber Incorporated | Co-manager | (212) 713-2626 |
| Auditor: Price Waterhouse | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 9/30/95 | 12/31/95 | 12/31/94 | 12/31/95 | ||
| Revenue: | $633.62 | $190.68 | $185.16 | Assets: | $783.10 |
| Net Income: | $30.25 | $14.37 | $13.95 | Liabilities: | $183.61 |
| EPS: | $0.79 | $0.63 | Equity: | $599.49 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The limited partnership was recently formed to acquire, own and operate the propane business and assets of Suburban Propane, a division of Quantum Chemical. The partnership is the third largest retail marketer pf propane in the United States, serving more than 700,00 active residential, commercial, industrial and agricultural customers from 355 district locations in 41 states. The partnership's operations are concentrated in the east and west coast regions of the United States. The retail propane sales volume of the partnership was approximately 527 million gallons during the fiscal year ended 9/30/95. During the last several years, management has introduced technological advancements and other initiatives in an effort to improve its efficiency and customer service. The partnership believes that it is the only major propane marketer to equip its delivery personnel with hand held computer terminals which simplify customer billing and collection of customer data and also improve productivity and inventory control. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used to repay debt to Quantum Chemical, purchase propane assets and make a special partnership distribution to Quantum. |
©1996 IPO Data Systems, Inc. - All rights reserved.