| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| School Specialty, Inc. |
| 1000 North Bluemound Drive, Appleton, WI 54914 * (920) 734-2756 |
| The company is the largest U.S. distributor focusing on non-textbook educational supplies and furniture for grades pre kindergarten through 12. |
| Manager | Tier | Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| Nationsbanc Montgomery Securities, Inc. | Co-manager | (415) 627-2100 |
| Piper Jaffray Incorporated | Co-manager | (612) 342-6220 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| NASNTL: | SCHS | Wholesale: | SIC 5112 | |
| Type of Shares: | Common Shares | Filing Date: | 3/6/98 | |
| U.S. Shares: | 2,125,000 | Offer Date: | 6/9/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 2,125,000 | Offer Price: | $15.50 | |
| Secondary Shares: | 0 | Gross Spread: | $1.09 | |
| Offering Amount: | $31,875,000 | Selling: | $0.64 | |
| Expenses: | $0 | Reallowance: | $0.10 | |
| Post-IPO Shares: | - | |||
| Spin out parent firm: | U.S. Office Products | |||
| Employees: | 1322 | |||
| Issuer's Law Firm: | Wilmer, Cutler & Pickering |
| Bank's Law Firm: | Sullivan & Cromwell |
| Auditor: | Price Waterhouse |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 4/26/97 | 10/25/97 | 10/26/96 | 10/25/97 | ||
| Revenue: | $191.75 | $198.49 | $130.67 | Assets: | $201.30 |
| Net Income: | $8.94 | $12.41 | $12.36 | Curr Assets: | $108.37 |
| EPS: | Liabilities: | $168.19 | |||
| Prior EPS: | Curr Liab: | $64.43 | |||
| Cash Flow/Oper: | Equity: | $33.11 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | Working Cap: | $43.94 | |||
| Competition |
| The market for school supplies is highly competitive and fragmented. School Specialty estimates that over 3,400 companies distribute educational materials to pre-K-12 schools as a primary focus of their business. In addition, School Specialty competes with alternate channel distributors such as office product contract stationers and superstores, which may continue to broaden their product lines in school supplies. Some of these competitors have greater financial resources and buying power than School Specialty. School Specialty believes that the educational supplies market will consolidate over the next several years, which may make School Specialty's general and specialty supply businesses more competitive. In addition, there may be increasing competition for acquisition candidates and there can be no assurance that acquisitions will continue to be available to School Specialty on favorable terms, if at all. |
| Business Plan |
| School Specialty's objective is to further enhance its position as the leading distributor of non-textbook educational supplies through the continued implementation of the following strategies: (I) Pursue Acquisitions Agressively, (ii) Improve Profitability and (iii) Penetrate New Markets and Expand Customer Base in Existing Markets. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for general corporate purposes, principally working capital and repayment of certain indebtedness allocated to the company by U.S. Office Products Company, and for potential acquisitions. |