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DALLAS - Privately held New Again by Contract Network, an 11-year-old remanufacturer of office furniture, has embarked on a plan to replicate its success in other markets across the country.
The Dallas-based company intends to acquire at least six other remanufacturers throughout the United States and take them public in a $25 million public offering before the end of the year.
New Again has not yet filed a registration statement with the Securities and Exchange Commission, but majority owner and CEO Mike O'Neal said he plans to take the company public by October or November.
In 1997, New Again logged revenue of $11 million, said O'Neal, who bought the company in 1994. In 1999, revenue should hit $85 million during the first year of integrated earnings after the IPO, he projected.
New Again's acquisitions in the fragmented remanufacturing industry will not be a traditional rollup, said Steve Harvey, managing director at …