The company has filed to take the stock ticker “ESCT” on NASDAQ. Lead underwriters are listed as Jefferies & Company and UBS Investment Bank; and co-managers are listed as Needham & Co. and Gleacher & Co.
Bruker EST is a superconducting technology and enabling tools company that makes materials and devices for growing markets in renewable energy, energy infrastructure, healthcare and what it calls “big science” research.
This company is a subsidiary of Bruker Corporation (NASDAQ: BRKR), which generated $1.1145 billion in 2009 revenues with operating income of $136.7 million and net income applicable to holders of $81.2 million.
For a comparison, the Bruker EST unit generated $60.1 million in 2009 revenue. As of June 30, 2010, the unit’s backlog was $100.7 million and it recently acquired the research instruments business of ACCEL Instruments GmbH from Varian Medical Systems, Inc. in April 2009.
Bruker Corporation (NASDAQ: BRKR) was trading up 5.1% at $13.23 in late morning trade. The parent market cap is $2.18 billion and the 52-week trading range is $9.17 to $15.85.
JON C. OGG
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