Ingram Micro Holdings, a leading IT solutions distributor, filed on Monday with the SEC for an initial public offering that we estimate could raise more than $1.25 billion.
Ingram Micro is owned by Platinum Equity, which acquired the company in a 2021 transaction valued at $7.4 billion from Chinese conglomerate HNA Group, which itself took the company private in 2016 at a $6 billion equity value. Before that, Ingram Micro had been publicly traded since its IPO in 1996.
Ingram Micro is among the largest business technology distributors in the world by revenue ($48 billion) and global footprint. With operations in 57 countries and 134 global logistics and service centers, the company provides hardware, software, and services from more than 1,500 vendor partners to more than 161,000 customers. Its segments include Client and Endpoint Solutions (f.k.a Commercial & Consumer), which includes desktop PCs, notebooks, printers, peripherals, smartphones, etc.; Advanced Solutions, which includes enterprise-grade hardware and software products such as servers, storage, networking, and cybersecurity solutions; and Cloud-based Solutions, which includes SaaS and IAAS offerings.
The Irvine, CA-based company was founded in 1979 as Micro D Inc. During the 12 months ended June 29, 2024, it booked $48 billion in revenue and $1.3 billion in adjusted EBITDA. It plans to list on the NYSE under the symbol INGM.
Ingram Micro filed confidentially on April 13, 2022. Morgan Stanley, Goldman Sachs, J.P. Morgan, BofA Securities, Deutsche Bank, Evercore ISI, Jefferies, and RBC Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
