Ingram Micro set to go public again after confidential filing

The global distributor heavyweight submitted a filing to go public in the US on Monday

Distribution giant Ingram Micro has submitted a filing to go public.

The company in a press statement said Ingram Micro Holding Corp. has confidentially submitted a draft registration statement to go public through a Form S-1 with the U.S. Securities and Exchange Commission.

In its press statement, Ingram Micro wrote, "The number of shares to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions."

The US distribution giant, which turned over $49.1bn globally for its financial year ending 2 January 2021, was toppled from its perch as the world's largest distributor after Synnex acquired Tech Data last year to create a $57bn-rebenue business.

Ingram Micro's 2021 private equity deal

Ingram Micro in July of 2021 closed its $7.2 billion acquisition by private equity powerhouse Platinum Equity in a blockbuster deal that freed the distributor from Chinese conglomerate HNA Group.

The deal, which took seven months to complete, gave Ingram Micro new financial resources to focus on new ways of doing business, including building its cloud and digital transformation businesses.

Ingram Micro was a public company in the past, but when private in late 2016 when it was acquired by HNA Group.

Ingram Micro for decades was the world's largest IT distributor. However, its two biggest rivals, Tech Data and Synnex, merged in September of 2021 to form a new company, TD Synnex, creating the new world leader in terms of IT distribution revenue.