Ingram Micro, the tech products powerhouse, is setting its sights on a valuation of up to $5.42 billion as it prepares to re-enter the public market in the U.S. after nearly a decade. This move highlights a notable resurgence in private equity-backed listings, driven by buoyant market conditions.
The company plans to offer 11.6 million shares, while its parent firm, Platinum Equity, will sell 7 million shares, pricing them between $20 and $23 each. This strategy could raise up to $427.8 million for the firm, making it a significant player in the current IPO landscape.
“Private equity firms are taking advantage of favorable market dynamics, strong investor demand, and the chance to cash in on their investments,” noted IPOX CEO Josef Schuster. “It’s also a strategic exit ahead of potential economic or political uncertainties tied to the upcoming U.S. elections.”
Founded in 1979 as a small distributor of computer products known as Micro D, Ingram has evolved into one of the largest technology distributors worldwide. It now services more than 161,000 clients—including resellers and retail customers—by distributing a wide array of products, including smartphones and computers from over 1,500 vendors like Apple, HP, and Cisco.
Based in Irvine, California, Ingram competes with industry giants such as TD Synnex, ScanSource, and ALSO Holding, boasting operations in 57 countries.
Ingram’s journey to this point includes its initial public offering 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. Just five years later, Beverly Hills-based Platinum Equity swooped in, acquiring Ingram for $7.2 billion.
In 2022, Ingram made headlines by selling a significant portion of its commerce and lifecycle services business to French shipping company CMA CGM Group in a deal valued at $3 billion.
Notably, investment manager Capital World Investors has expressed interest in purchasing up to $70 million worth of Ingram shares. Following the IPO, Platinum Equity is set to remain the majority shareholder, retaining a 90.8% stake, while plans are in place to use the proceeds from the offering to pay down debt.
Ingram is set to trade on the NYSE under the ticker symbol “INGM,” with leading support from financial heavyweights Morgan Stanley, Goldman Sachs, and J.P. Morgan Securities.
As Ingram Micro prepares for this pivotal moment, industry watchers are eager to see how this IPO will unfold and what it means for the future of technology distribution.
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