September 24, 2009 (FinancialWire) — Mistras Group, Inc., (NYSE: MG) has launched an initial public offering of 8.7 million shares of its common stock. J.P. Morgan (NYSE: JPM), Credit Suisse (NYSE: CS) and BofA Merrill Lynch will act as joint book-running managers.

According to Mistras, 6.7 million of the shares are being offered by the company and two million shares are being offered by certain selling shareholders, including Thayer/Hidden Creek Partners and Altus Capital Partners.

The estimated price range for the initial public offering is $14 to $16 per share. The underwriters have the option to purchase from the selling shareholders up to an additional 1.3 million shares of common stock, on the same terms and conditions, to cover over-allotments.

Princeton Junction, New Jersey-based Mistras Group is a provider of asset protection solutions including non-destructive testing, mechanical integrity services, and plant conditioning monitoring software and systems, to evaluate the structural integrity of critical energy, industrial and public infrastructure.

Mistras serves a customer base including companies in the oil and gas, power generation and transmission, public infrastructure, chemicals, aerospace and defense, transportation, primary metals and metalworking, pharmaceuticals and food processing industries.

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