| Ticker: QEPC | 990 South Rogers Circle | |
| Exchange: NASDAQ-National Market | Boca Raton, Florida 33487 | |
| Industry: Wholesale | (561) 994-5550 |
| Type of Shares: | Common Shares | Filing Date: | 7/2/96 | |
| U.S. Shares: | 1,200,000 | Offer Date: | 9/18/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.50 - $10.50 | |
| Primary Shares: | 1,000,000 | Offer Price: | $8.50 | |
| Secondary Shares: | 200,000 | Gross Spread: | $0.62 | |
| Offering Amount: | $12,000,000 | Selling: | $0.33 | |
| Expenses: | $568,000 | Reallowance: | $0.10 | |
| Shares Out After: | 2,504,894 |
| Manager | Tier | Phone |
| Cruttenden Roth Incorporated | Lead Manager | (800) 678-9147 |
| Auditor: Grant Thornton | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 2/29/96 | 5/31/96 | 5/31/95 | 5/31/96 | ||
| Revenue: | $25.27 | $7.70 | $5.68 | Assets: | $7.82 |
| Net Income: | $1.07 | $0.44 | $0.26 | Liabilities: | $3.96 |
| EPS: | $0.70 | $0.29 | $0.17 | Equity: | $3.86 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a leading manufacturer, marketer and distributor of a broad line of specialty tools and related products for the home improvement market. Under the "QEP", "O'Tool", "Marion Tool", and Andrews Tools" brand names, the company markets over 4,000 specialty tools and related products used primarily for surface preparation and installation of ceramic tile, carpet, marble, masonry, drywall and paint. The company's products include, among other items, trowels, floats, tile cutters, wet saws, spacers, nippers, pliers, carpet trimmers and cutters, knives and abrasives. The company's products are sold through home improvement retailers including national and regional chains such as Home Depot, Lowe's and Hechinger/Home Quarters, specialty distributors to the hardware, construction and home improvement trades, retailers such as Ace Hardware and New York Carpet World, and OEMs such as Stanley and Red Devil. The company's full line of specialty tools and related products are marketed for use by do-it-yourself consumers as well as construction and remodeling professionals. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used to repay a bank credit facility, finance growth in inventories and accounts receivable, acquire complementary businesses or product lines, make capital improvements and for general corporate purposes. |
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