Aleris Corporation reported nearly $5 billion in sales and $161 million in net income in its first SEC filing since July 2011. The aluminum manufacturer initially filed to go public in April 2011, only ten months after emerging from bankruptcy. Private equity firms Oaktree (57% pre-IPO stake), Apollo (17%) and Sankaty Advisors (10%) acquired the company, which had posted consecutive billion dollar losses when it sought Chapter 11 protection in February 2009.
Aleris was formed in 2004 through the merger of Commonwealth Industries and IMCO Recycling. The Beachwood, OH-based company plans to list on the NYSE under the symbol ARS. J.P. Morgan, Barclays, Deutsche Bank, BofA Merrill Lynch and Goldman Sachs are the joint bookrunners on the deal.
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