Yesway Inc. has filed a statement with the U.S. Securities and Exchange Commission (SEC) for a proposed $100 million initial public offering (IPO) of its stock.
The convenience-store company, based in Fort Worth, Texas, has applied to list on The Nasdaq Global Select Market under the ticker symbol YSWY. The offering is subject to market conditions, and the company said there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Morgan Stanley, J.P. Morgan, Goldman Sachs & Co. LLC, BMO Capital Markets and Barclays are acting as joint bookrunning managers for the proposed offering.
Established in 2015, Yesway is a multi-branded platform that acquires, transforms and enhances portfolios of convenience stores by leveraging expertise in real estate and technology, and by implementing data-driven decision making.
Its portfolio consists of 403 stores located in Texas, New Mexico, South Dakota, Iowa, Kansas, Missouri, Wyoming, Oklahoma and Nebraska, including most recently, the 302-store Allsup’s c-store chain.
The company is an affiliate of Beverly, Mass.-based Brookwood Financial Partners, a real-estate and private-equity investment and asset management company with more than $2.6 billion in holdings. Brookwood Financial Partners LLC formed BW Gas & Convenience Holdings LLC in 2015 and announced its c-store brand, Yesway, in summer 2016.
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