Carlyle’s CommScope Seeks Up to $808 Million in Public Offering

CommScope Holding Co., the telecommunications-equipment maker backed by Carlyle Group LP, is seeking as much as $808 million in an initial public offering.

The company and Carlyle will offer 38.5 million shares to investors at $18 to $21 apiece, according to a statement today. CommScope will use its proceeds to repay debt.

The sale comes three years after Carlyle, the world’s second-biggest private equity firm, said it would acquire the Hickory, North Carolina-based CommScope for about $3 billion, excluding the value of debt. At the top of the offering range CommScope is valued at $3.9 billion, according to data compiled by Bloomberg.

CommScope, which counts AT&T Inc. and Verizon Communications Inc. among its customers, may be the largest telecom IPO in the U.S. this year, topping phone-conferencing services provider West Corp. (WSTC), which raised about $426 million in March, data compiled by Bloomberg show. Demand for smartphone and tablet communications has provided a boost to CommScope, which posted sales of $1.75 billion in the first six months of 2013, an increase of over 10 percent from a year ago, according company filings.

Carlyle is selling 7.7 million shares and the Washington-based firm will own 78 percent of CommScope after the offering, the filing showed. Carlyle may sell more shares as part of the underwriters’ overallotment option.

JPMorgan Chase & Co., Deutsche Bank AG and Bank of America Corp. are managing the offering. CommScope has applied to list its shares on the Nasdaq Stock Market under the symbol COMM.

To contact the reporter on this story: Leslie Picker in New York at lpicker2@bloomberg.net

To contact the editor responsible for this story: Jeffrey McCracken at jmccracken3@bloomberg.net

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