Ingram Micro, owned by Platinum Equity, is aiming for a valuation of up to $5.42bn in its upcoming US initial public offering (IPO), Reuters has reported.
The move marks the technology distributor’s return to the public market after almost a decade of private ownership.
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Ingram Micro is set to offer 11.6 million shares, while Platinum Equity plans to sell seven million shares, with a price range of $20 to $23 per share.
The anticipated IPO could raise as much as $427.8m.
Founded in 1979, Ingram Micro has evolved from a small computer products distributor into a leading global technology distributor, serving more than 161,000 clients across 57 countries.
The company competes with other major distributors such as TD Synnex, ScanSource, and ALSO Holding.
A significant portion of Ingram’s net sales comes from products sourced from prominent companies such as Apple, HP, and Cisco.
Initially public in 1996, Ingram Micro was taken private by HNA Group in 2016 for $6bn before being acquired by Platinum Equity in 2021 for $7.2bn.
In 2023, Ingram divested most of its commerce and lifecycle services business to CMA CGM Group for $3bn.
Capital World Investors expressed interest in purchasing up to $70m worth of Ingram shares.
Following the IPO, Platinum Equity will retain a 90.8% controlling interest, and Ingram intends to use the proceeds to repay debt.
Recently, Ingram Micro announced that it had in the region of 24,150 full-time staff as of 29 June 2024, with almost 4,970 of them in the US.
As part of a restructuring plan, the company acknowledged “a headcount reduction of 503 employees” in the first quarter of 2024.
“We currently do not anticipate material future costs to be incurred under this restructuring plan,” the company stated in a regulatory filing.
