Cabinetmaker Norcraft Cos. has filed for an initial public offering with the hopes of raising $100 million to restructure debt and expand its reach.

The Eagan-based company owes about $240 million in debt, according to the prospectus filed Monday with the U.S. Securities and Exchange Commission. Underwriters include Citigroup, Deutsche Bank, RBC Capital Markets and UBS Investment Bank.

Officials said they expect the company to grow based on the improving housing market, the desire of homeowners to update their kitchens and the company’s push to develop new products.

“We intend to continue adding new customers to our network and to expand our sales to our existing base of nearly 2,000 active customers, including 1,700 cabinet dealers and wholesalers,” CFO Leigh Ginter wrote in the SEC filing.

Norcraft, which makes custom cabinets for kitchens, dining rooms, bathrooms and mudrooms, opened its doors in Marshall, Minn., in 1966 as Marshall Millworks. It has since changed its name to Norcraft Holdings and became roughly the fifth-largest cabinetmaker in the United States. Since 2003, the company has been primarily owned by CEO Mark Buller, his relatives and investors such as SKM Equity Fund III and the Trimaran Fund II.

Norcraft runs six U.S. and Canadian manufacturing plants and sells products in retailers in more than 20 states. Norcraft sells under the brand names Mid Continent Cabinetry, Fieldstone Cabinetry, Brookwood, StarMark Cabinetry, UltraCraft and Urban Effects by Norcraft Cabinetry. About two-thirds of its products go to home remodeling jobs and the rest into newly built homes, officials said.

Norcraft has about 1,892 employees, 2,000 customers and $312 million in 12-month sales as of June 30. The IPO will require approval from SEC officials and is expected to take several months before completed.

Norcraft is only the fourth company in Minnesota to opt for a public offering in two years. Plymouth-based BioAmber Inc. completed an offering for $96 million in May 2013.

Proto Labs raised $70 million in February 2012. Silver Bay Realty Trust raised $245 million through an offering in December 2012.