Ingram Micro announced on Tuesday its intention to pursue a valuation of up to $5.42 billion as it seeks to re-enter the U.S. public market nearly a decade after its last listing. This move reflects a growing trend of private equity-backed companies going public, fueled by vibrant market conditions.
The surge in initial public offerings (IPOs) has been bolstered by recent successful debuts, including Carlyle-backed StandardAero and Partners Group-backed KinderCare Learning, encouraging private equity firms to monetize their investments.
Ingram plans to offer 11.6 million shares, while its parent company, Platinum Equity, will sell 7 million shares, with an expected price range between $20 and $23 per share. This could raise up to $427.8 million for the company.
“Private equity firms are taking advantage of favorable market dynamics, robust demand, and the chance to realize returns on their investments,” said Josef Schuster, CEO of IPOX. “It’s also a strategic exit ahead of potential economic or political uncertainties linked to the upcoming U.S. elections.”
Founded in 1979 as a small computer products distributor known as Micro D, Ingram Micro has evolved into one of the largest technology distributors globally. It provides a wide array of products and services, including smartphones and computers, from over 1,500 vendors to more than 161,000 clients, encompassing resellers and retail customers.
Based in Irvine, California, Ingram operates in 57 countries and competes with companies such as TD Synnex, ScanSource, and ALSO Holding. A significant portion of its net sales comes from products sourced from major tech giants like Apple, HP, and Cisco.
Ingram Micro first went public in 1996, trading on the New York Stock Exchange until 2016, when it was acquired by the China-based conglomerate HNA Group for $6 billion. Five years later, Platinum Equity acquired Ingram from HNA for $7.2 billion.
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