PQ Group Holdings Inc., a Malvern manufacturer of catalysts, specialty materials, and chemicals, has filed for an initial public offering, according to an amended Securities and Exchange Commission filing Monday.
The filing had few details on the stock sale by the company that is owned by CCMP, a large private-equity firm; INEOS, a petrochemical giant based in England; and management.
PQ, which traces its roots to a company founded in 1831 in Philadelphia, last year had a net loss of $80 million on $1 billion in revenue, the filing said. At the end of last year, PQ had 2,949 employees globally. It has 72 manufacturing facilities on six continents.
The latest iteration of PQ is a combination legacy operations and a unit of Solvay.