Simpson Thacher represented the underwriters, led by Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, in connection with the initial public offering and listing on the New York Stock Exchange of Atmus Filtration Technologies Inc. (“Atmus”). The offering comprised 16,243,070 shares of common stock, including the exercise in full of the underwriters’ overallotment option, at a public offering price of $19.50 per share. The shares began trading on the New York Stock Exchange on May 26, 2023 under the ticker symbol “ATMU.” The shares were sold by Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC as selling stockholders following a debt-for-equity exchange prior to the closing of the offering with Cummins Inc., the owner of 80.5% of Atmus common stock following the closing.
Atmus is a global leader in filtration and media solutions. For more than 65 years, the company has combined its culture of innovation with a rich history of designing and manufacturing filtration solutions. With a presence in more than 150 countries on six continents, Atmus serves customers across truck, bus, agriculture, construction, mining, marine and power generation vehicle and equipment markets, along with comprehensive aftermarket support and solutions. Headquartered in Nashville, Tennessee, Atmus employs approximately 4,250 people globally.
The Simpson Thacher team for the transaction included Roxane Reardon, Lesley Peng, Jieun Lim and John Balletta (Capital Markets); Sophie Staples, Andrew Purcell and Edward Grais (Tax); Jamin Koslowe and Guanxiong Xu (Executive Compensation and Employee Benefits); Toby Chun and Deepa Sarkar (Environmental); Lori Lesser, Alysha Sekhon and Mark Natividad (Intellectual Property); and Jennie Getsin (FINRA and Blue Sky).