Trying to strike oil in public markets: Indianapolis-based Calumet Specialty Products files for IPO, hopes to raise $140 million

An Indianapolis-based oil company with ties to a wealthy local family plans to go public in what analysts describe as a hot-butvolatile market. Calumet Specialty Products Partners LP wants to raise $140 million by selling 6.4 million units at an expected price of $22 each, according to papers filed this month with the U.S. Securities and Exchange Commission. Calumet has been part of the private business empire of the Fehsenfeld family, which 35 years ago founded Heritage Environmental Services, a...

 

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