MasterCraft set for $85 million IPO

MasterCraft announced its terms for its pending IPO this week, NASDAQ reported.

The Tennessee-based tow boat manufacturer plans to raise $85 million by offering 6.1 million shares at a price range of $13 to $15. At the midpoint of the proposed range, MasterCraft would command a fully diluted market value of $266 million and an enterprise value of $271 million. The IPO is expected to price next week.

Competitor Malibu Boats, which recently filed a patent infringement suit against MasterCraft, went public in 2014.

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