Ingram Micro is seeking a valuation of up to $5.42 billion as it plans to go public in the U.S., marking its return to the stock market after nearly a decade. The technology distributor, backed by private equity firm Platinum Equity, announced the IPO on October 15, 2024, amidst favorable market conditions that have encouraged private-equity-backed listings. The offering will include 11.6 million shares from Ingram Micro and 7 million shares from Platinum Equity, priced between $20 and $23 each, aiming to raise up to $427.8 million. Following the IPO, Platinum Equity will retain a 90.8% controlling stake, with proceeds earmarked for debt repayment.
Founded in 1979, Irvine, California-based Ingram Micro has evolved into a major technology distributor, delivering products and services from over 1,500 vendors, including Apple, HP, and Cisco, to a global customer base of more than 161,000. It competes with other large distributors such as TD Synnex and ScanSource. Since its initial public listing in 1996 and subsequent $6 billion acquisition by China's HNA Group in 2016, Ingram Micro underwent another ownership change in 2021 when Platinum Equity acquired it for $7.2 billion. The company has continued to streamline its operations, notably divesting a significant part of its commerce services in 2022 for $3 billion.
