March 22 Technology products retailer CDW Corp
filed with U.S. regulators to raise $500 million in an initial
public offering, making it the latest private equity-backed
company to file to go public this year.
Large companies that were taken over by private equity firms
during the 2005-2007 buyout heyday are starting to tap the
public markets as U.S. stock markets rally to record highs.
Warburg Pincus-backed eye care company Bausch & Lomb also
filed for an IPO on Friday. That deal could raise as much as
$1.5 billion, Reuters had reported.
Other private equity-backed companies like drugmaker testing
services provider Quintiles Transnational Corp and industrial
distribution company HD Supply are also gearing up for IPOs this
CDW was taken private in 2007 for $7.3 billion by Madison
Dearborn Partners LLC and Providence Equity Partners. The
proposed IPO could raise about $750 million, Reuters reported
earlier this month.
J.P. Morgan, Barclays and Goldman Sachs & Co would lead the
offering, CDW said in a filing with the U.S. Securities and
Exchange Commission. ()
Founded in 1984, CDW is one of the largest computer
resellers in the United States, selling products such as
notebooks, tablets and printers to businesses and government
CDW, which sells products from companies including Apple Inc
, Hewlett-Packard Co and International Business
Machines Corp, online and through its catalog, said it
intends to list its common stock under the symbol 'CDW'.
The company did not disclose the number of shares it
intended to sell or the exchange on which they would trade.
The amount of money a company says it plans to raise in its
first IPO filings is used to calculate registration fees. The
final size of the IPO could be different.