Boise Cascade delays public offering

Boise Cascade Co.’s initial public offering has been delayed as the wood and paper-products company continued to drum up investor interest.

The Boise company was originally expected to price Monday night and begin trading Tuesday. Instead, it is now expected to price some time this week, with no clear indication of which day, according to market data and research provider Dealogic.

Boise Cascade, formerly part of retail chain OfficeMax Inc., of Itasca, Ill., is hoping to sell 16 million shares at $24 to $26 apiece. The components that make up Boise Cascade were purchased from OfficeMax by Chicago private-equity shop Madison Dearborn Partners LLC in October, and are being flipped into an IPO less than a year later.

Boise Cascade’s balance sheet is heavy on debt, and all proceeds from the offering are destined not for the company’s coffers, but to its current owners’ pockets.

Investors have been increasingly resistant to the price ranges set by underwriters on similarly structured deals, most notably PanAmSat Holding Corp. and Warner Music Group Corp., which performed poorly after they hit the market at reduced prices.

Tree care firm moving to industrial park

A tree trimming and removal company will move its administrative offices to the Spokane Business and Industrial Park next month.

Evergreen Tree Care will move from 9923 E. Trent Ave., about a mile east of Argonne Road, to the industrial park. President Mike Buddig said Evergreen no longer needed its 5,000-square-foot shop on East Trent because most of the company’s business is in Seattle and Portland. However, the 20-year-old company does business stretching from Mexico to Canada, Buddig said.

The company will lease 2,157 square feet in the industrial park, according to a news release from Crown West Realty. In addition, Evergreen will lease out its former building on East Trent to Neff Equipment Rental, Buddig said. A latte stand also will set up shop on additional land there, he added.