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Private equity-backed HD Supply eyeing public listing

5 Mar 2013

HD Supply hardwareThe consortium of private equity giants which bought industrial distribution company HD Supply are reportedly planning an IPO of the business.

Bain Capital, The Carlyle Group and Clayton, Dubilier & Rice paid $8.5bn for the business at the height of the buyout boom in 2007, having negotiated a $1.8bn reduction from the original agreement two months earlier.

The firms plan to interview investment banks next week to select underwriters for the IPO according to Reuters, which cited three people familiar with the matter.

HD Supply is one of the largest industrial distribution companies in North America, providing products to customers across the infrastructure, maintenance, repair and speciality construction sectors.

It has about 630 locations across 45 US states and nine Canadian provinces.

Reuters said the company’s performance had improved significantly in recent years as construction continues to rebound following the global economic crash.

HD Supply had $7bn of revenues and adjusted EBITDA of more than $500m last year.

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