Four months after Energy Capital Partners led a $90 million investment in coal miner Ramaco Resources, the New York private equity firm has kicked off a process to potentially sell a stake in the portfolio company, TheStreet.com reported on Friday. Ramaco on Thursday filed a Form S-1 with the Securities and Exchange Commission in an effort to raise enough cash for the $133 million the company expects to spend to fully develop its projects; it plans to spend $106.5 million through Dec. 31, 2018. It is unclear whether the IPO of Ramaco, which also has backing from a number of Yorktown Partners LLC funds, would represent a complete exit for its private equity owners or if either firm would retain partial stakes in the Lexington, Ky., coal mining company. The initial S-1 does not detail the firms' current or future stakes.
