Scotts Valley-Based Fox Shox To Launch IPO

High-performance suspension maker Fox Shox announced plans to make the move to Wall Street with an IPO that could bring in as much as $120 million, the Silicon Valley Business Journal reported. 

Fox Shox is headquartered in Scotts Valley and operated a manufacturing facility in Watsonville. Its high-end shocks outfit mountain bikes, ATVs, motorcycles, even Ford's F-150 SVT Raptor.

Both its revenue and its net income have been increasing by double-digits in recent years, according to the Silicon Valley Business Journal.

The company, which has been majority owned by Compass Group Diversified Holdings LLC, intends to enter the Nasdaq Global Select Market under the ticker symbol "FOXF."

An unspecified amount of stock will be sold. Compass currently owns about 75 percent of the company.