June 27 2014, David R Brown
Univar files registration statement for proposed IPO with U.S. Securities and Exchange Commission (SEC)
Univar Inc. has announced that it has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of shares of its common stock. The proposed offering is expected to commence subject to the review process of the SEC, and subject to market and other conditions. Univar is believed to have set an initial target of up to $100 million for the IPO but has not publically stated how many shares it plans to sell or on which exchange it intends to list its shares.
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Deutsche Bank Securities, Goldman, Sachs & Co. and BofA Merrill Lynch are serving as the lead book-running managers. Barclays, Credit Suisse, J.P. Morgan, Jefferies and Morgan Stanley are also serving as book-running managers. The offering of common stock will be made only by means of a prospectus.
Univar is currently owned by private equity and investment companies CVC Capital Partners (42.5%) and Clayton, Dubilier & Rice, LLC (42.5%) with the company's management owning the rest of the issued share capital. CVC Capital bought Univar in 2007 for $2.1Bn with Clayton, Dubilier & Rice acquiring a 42.5% equity interest in the company in 2010, leaving CVC Capital with an equal stake. Univar's net sales rose 6% to $10.32Bn in 2013 and the company's net loss narrowed to $82.3M in the year from $197.4M in 2012.
Over the last four years, Univar has acquired multiple companies, expanding operations in the U.S., Belgium, the Netherlands, Turkey, Brazil and, most recently, Mexico with the $92.4 million acquisition of Quimicompuestos, a leading distributor of commodity chemicals in Mexico.
About Univar Inc.
Founded in 1924, Univar is a leading global chemical distributor of industrial and specialty chemicals and related chemistry services. Univar sources from over 8,800 producers worldwide and provides its customer base, made up of 133,000 customers, with a full portfolio of specialty products. Univar operates a network of over 700 distribution facilities throughout North America, Europe, the Asia-Pacific region, and Latin America, with additional sales offices located in Eastern Europe, the Middle East, and Africa.
Source(s): Univar Press Release
Further Information
Visit: http://www.univar.com