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LBO'd global chemicals distributor Univar refiles for an IPO that could raise $1 billion

By: Renaissance Capital
Posted: 6/27/2014 5:15:00 PM
Referenced Stocks: SERV

Univar, the leading chemicals distribution company in North America, filed on Friday with the SEC to raise up to $100 million in an initial public offering, although the deal size is likely just a placeholder. We estimate the company could raise $1 billion. Univar was acquired by CVC, Goldman Sachs and Parcom in 2007. It originally filed to raise $863 million in June 2010, but withdrew after Goldman sold its stake to Clayton, Dubilier & Rice. CD&R was behind ServiceMaster ( SERV ), which went public earlier this week.

The Downers Grove, IL-based company, which was founded in 1924 and booked $10.3 billion in sales for the 12 months ended March 31, 2014, plans to list under the symbol UNVR. Deutsche Bank, Goldman Sachs and BofA Merrill Lynch are the joint bookrunners on the deal. No pricing terms were disclosed.