New Mountain poised for big gain in Deltek IPO (Tech Confidential - Behind The Money Blog)

New Mountain poised for big gain in Deltek IPO (Tech Confidential - Behind The Money Blog): "New Mountain Capital LLC stands to realize nearly 5 times its initial investment when Deltek Inc., a business software provider it bought in 2005, goes public. The buyout shop, based in New York, acquired Deltek for $180 million, which included $105 million in equity and $75 million in debt. Herndon, Va.-based Deltek filed Friday to sell 9 million shares in an initial public offering at $17 to $19 each via bookrunner Credit Suisse Group. At the midpoint price of $18, the transaction would produce $162 million. Currently, New Mountain owns about 74%. It plans to sell about 3.9 million shares in the IPO. Afterward, the firm will have a 57.6% stake, or 25.2 million shares, not including an overallotment option. At $18 a share, New Mountain stands to gain $70.2 million from the offering. Its remaining holding will be valued at roughly $454 million. Including unrealized gains and the sale of shares, New Mountain could realize 4.99 times its initial investment."