| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Provant, Inc. |
| 67 Batterymarch Street, Suite 500, Boston, MA 02110 * (617) 261-1600 |
| The company provides a broad range of training and development services and products to Fortune 1000 companies, other large and medium sized corporations and government entities. |
| Manager | Tier | Phone |
| Nationsbanc Montgomery Securities, Inc. | Lead Manager | (415) 627-2100 |
| Piper Jaffray Incorporated | Co-manager | (612) 342-6220 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| NASNTL: | POVT | Service: | SIC 8742 | |
| Type of Shares: | Common Shares | Filing Date: | 2/12/98 | |
| U.S. Shares: | 2,600,000 | Offer Date: | 4/28/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $11.00 - $13.00 | |
| Primary Shares: | 2,600,000 | Offer Price: | $13.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.91 | |
| Offering Amount: | $31,200,000 | Selling: | $0.50 | |
| Expenses: | $2,750,000 | Reallowance: | $0.10 | |
| Post-IPO Shares: | 9,405,605 | |||
| Employees: | 600 |
| Issuer's Law Firm: | Nutter, McClennen & Fish |
| Bank's Law Firm: | Ropes & Gray |
| Auditor: | KPMG Peat Marwick |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/97 | 9/30/97 | 9/30/97 | |||
| Revenue: | $68.85 | $17.74 | Assets: | $75.09 | |
| Net Income: | $4.21 | $0.52 | Curr Assets: | $21.46 | |
| EPS: | $0.45 | $0.06 | Liabilities: | $38.57 | |
| Prior EPS: | Curr Liab: | $35.57 | |||
| Cash Flow/Oper: | Equity: | $36.52 | |||
| Cash Flow/Fin: | Cash: | $3.02 | |||
| Cash Flow/Inv: | Working Cap: | -$14.11 | |||
| Competition |
| The training and development industry is highly fragmented and competitive, with low barriers to entry and no single competitor accounting for a significant market share. The Company's competitors include several large publicly traded and privately held companies, and thousands of small privately held training providers and individuals. In addition, many of the Company's clients maintain internal training departments. Some of the Company's competitors offer services and products that are similar to those of the Company at lower prices, and some competitors have significantly greater financial, managerial, technical, marketing and other resources than the Company. Moreover, the Company expects that it will face additional competition from new entrants into the training and development market due, in part, to the evolving nature of the market and the relatively low barriers to entry. There can be no assurance that the Company will be successful against such competition. |
| Business Plan |
| The Company's objective is to meet a significant portion of the training and development needs of Fortune 1000 companies, other large and medium-sized corporations and government entities. To achieve this objective, the Company intends to pursue a business strategy with the following key elements: (I) Capitalize on Cross-Selling Opportunities, (ii) Implement Aggressive Sales and Marketing Strategy, (iii) Expand Service and Product Offerings, (iv) Pursue Strategic Acquisitions and (v) Leverage Investments in Technology and Deploy Leading Technologies. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to pay the cash portion of its purchase price for the Founding Companies and to repay certain indebtedness. |