Technology Supply Company CDW Corp. Files for $500 Million IPOJulie Alnwick
CDW Corp., the technology supply company owned by Madison Dearborn Partners LLC and Providence Equity Partners Inc., filed for a $500 million initial public offering in the U.S.
JPMorgan Chase & Co., Barclays Plc and Goldman Sachs Group Inc. are leading the offering for the Vernon Hills, Illinois-based company, according to a regulatory filing today. The $500 million amount is a placeholder that may change.
Madison Dearborn, a Chicago-based private-equity firm, and Providence acquired CDW for $6.7 billion in 2007 at the height of biggest buyout boom in history, data compiled by Bloomberg show. CDW, which makes software and hardware for corporate and government clients, generated more than $10 billion in revenue last year.
Madison Dearborn and Providence didn’t say in the filing whether they would offer shares in the IPO.