(Reuters) - Univar Inc, the largest chemical distributor in North America, filed with U.S. regulators on Friday for an initial public offering.
The Illinois-based company listed Deutsche Bank and Goldman Sachs as the lead underwriters to the IPO. (bit.ly/1qQXzyH)
Univar, whose stakeholders include private equity firms CVC Capital Partners Ltd and Clayton, Dubilier & Rice LLC, has 700 distribution facilities in more than 150 countries.
Univar set an initial target of up to $100 million for the IPO, but it did not say how many shares it planned to sell or on which exchange it intends to list its shares.
Univar’s net sales rose 6 percent to $10.32 billion in 2013. The company’s net loss narrowed to $82.3 million in the year from $197.4 million in 2012.
CVC Capital took Univar private in 2007 for $2.1 billion.
Clayton, Dubilier & Rice acquired a 42.5 percent equity interest in the company in 2010, leaving CVC Capital with an equal stake. The company’s management owned the rest.
Reuters reported in April, citing sources, that Univar was exploring an IPO that could value the company at more than $6 billion.
Univar appointed Erik Fyrwald, former president of water treatment products company Ecolab, as its chief executive in 2012.
Univar said it planned to list its shares under the symbol “UNVR”.
The amount a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO could be different.
Reporting by Neha Dimri in Bangalore; Editing by Kirti Pandey