NEW YORK (Reuters) - Private equity owners are preparing to take HD Supply public, nearly six years after buying the industrial distribution company out of Home Depot Inc
Bain Capital, Carlyle Group and Clayton, Dubilier & Rice, the buyout firms who jointly led the deal in 2007, plan to interview investment banks next week to select underwriters for the proposed initial public offering, the people said.
Representatives for Bain and CD&R declined to comment. Carlyle and HD Supply did not immediately respond to requests for comment.
Home Depot maintained a 12.5 percent stake in HD Supply as part of the buyout.
HD Supply, one of the largest distributors of construction, industrial and maintenance supplies in North America, had $7 billion in revenues and more than $500 million in adjusted earnings before interest, tax, depreciation and amortization (EBITDA) for the fiscal year ended January 2012.
The company's performance has improved significantly in recent years as residential and commercial construction rebounds from the trough of the financial crisis.
For the nine months ended October 2012, sales rose 12.4 percent to $6 billion and adjusted EBITDA surged 30 percent to $529 million, from the same period the year before.
(Reporting By Olivia Oran and Soyoung Kim; Editing by Stephen Coates)
Source: http://news.yahoo.com/exclusive-pe-owners-plan-hd-supply-ipo-8-024031049--sector.html
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