HD Supply Holdings, the indirect parent of HD Supply, announced that it will launch an initial public offering of 53,191,489 shares of common stock.
The company hopes to raise $1.3 billion in its initial public offering, funds used to pay debt, transaction fees and other expenses. Shares of HDS are expected to become available through NASDAQ June 26.
HD Supply is one of the largest industrial distributors in North America. The company provides a broad range of products and value-add services to about 500,000 professional customers with leadership positions in maintenance, repair and operations, infrastructure and power and specialty construction sectors. With more than 600 locations across 46 states and nine Canadian provinces, the company's approximately 15,000 associates provide localized, customer-driven services including jobsite delivery, will call or direct-ship options, diversified logistics and other solutions.
HD Supply was the wholesale distribution arm of The Home Depot, until it was sold in 2007 for $8.5 billion to a group of investors including Carlyle Group, Bain Capital and Clayton Dubilier & Rice.