Cushman & Wakefield Sets IPO Share Price, Envisions Raising $810M

Chicago-based Cushman & Wakefield plans to offer 45 million shares, priced at between $16 to $18 each, in a U.S. IPO that could raise as much as $810 million, according to regulatory statements filed on Monday. Underwriters Morgan Stanley, JPMorgan Chase & Co., Goldman Sachs and UBS can buy up to 6.75 million shares. If fully exercised, that could bring total proceeds to more than $930 million.

The commercial real estate services firm plans to use proceeds to reduce $3 billion in debt, for general corporate purposes, and for making deferred payments to employees who worked for Cassidy Turley, which was acquired in 2014. The company is now owned by private equity firms, TPG and PAG Asia Capital.

Cushman & Wakefield reported a net loss of $221 million in 2017, and a loss of $92 million in Q1 2018, according to regulatory filings.

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Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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Cushman & Wakefield Sets IPO Share Price, Envisions Raising $810M

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Cushman & Wakefield Sets IPO Share Price, Envisions Raising $810M

Inside The Story

About Dennis Kaiser