Ingram Micro Holding, which is a leading IT solutions distributor, announced terms for its IPO on Tuesday.
The Irvine, CA-based company plans to raise $400 million by offering 18.6 million shares (38% secondary) at a price range of $20 to $23. Capital World Investors has indicated on $70 million of the IPO (18% of the deal). At the midpoint of the proposed range, Ingram Micro Holding would command a fully diluted market value of $5.1 billion.
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. (61% of FY23 revenue); Advanced Solutions, which includes enterprise-grade hardware and software products such as servers, storage, networking, and cybersecurity solutions (37% of FY23 revenue); and Cloud-based Solutions, which includes SaaS and IAAS offerings (1% of FY23 revenue).
Ingram Micro Holding was founded in 1979 and booked $47.8 billion in sales for the 12 months ended June 30, 2024. It plans to list on the NYSE under the symbol INGM. 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. It is expected to price during the week of October 21, 2024.
