CEVA, which is majority owned by private equity investment firm Apollo Global Management, first attempted to go public in 2012, but a run of poor financial performance put those plans on the shelf and eventually triggered a financial recapitalization.
In April 2013, company officials asked bond holders to trade in their holdings for equity in the company. By the end of the campaign, CEVA had reduced its debt by about half, cut its annual cash interest costs in half, and added nearly $300 million to its credit facilities.
According to the New York Post report, which cites “a source close to the situation,” the latest IPO would value CEVA at roughly $1.5 billion.
“Apollo has made the decision to IPO and it is slated to happen before Easter,” the source told the newspaper. “They are not looking back.”
Apollo did not respond to a request for comment, and a spokesperson for CEVA said the company “does not comment on market rumors or speculation.”
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now