Academy Sports & Outdoors Prepares for IPO
The Texas-based retailer, which struggled for years under ownership of KKR but has executed a remarkable turnaround under new CEO Ken Hicks, is now filing the preliminary documents that would allow for a public offering as soon as this year. A report in Bloomberg said the retailer has grown sales volume to $4.9 billion since 2010 and now numbers 250 doors compared to 133 when KKR took over. EBITDA for the trailing 12 months ended May 2 was $361 million which would imply a valuation of about $2.5 billion.
Heavily leveraged Academy has consistently been under pressure from ratings agencies over ... Log in to view full article.