Ingram Micro Will Reportedly Go Public Again

Ingram Micro, which went private in 2016 when it was acquired by China-based HNA Group in a $6 billion deal before being acquired by Platinum Equity for $7.2 billion, also filed for an IPO in 2022

IT distribution giant Ingram Micro looks like it may be heading to a new IPO.

Ingram Micro is now working with Goldman Sachs and Morgan Stanley on an $8 billion IPO that could launch as soon as April, Bloomberg reported Thursday, citing “people familiar with the matter.”

This would not be Irvine, Calif.-based Ingram Micro’s first attempt to launch an IPO.

Ingram Micro, which went private in 2021 as a result of its $7.2 billion acquisition by Platinum Equity, previously confidentially filed for an IPO in September 2022, but later passed on the opportunity.

Prior to its acquisition by Platinum, Ingram Micro was owned for about six years by China-based HNA Group, which acquired the distributor in 2016 in a deal valued $6 billion. HNA Group ran into financial difficulties because of over-investing in a wide range of assets outside of China.

Ingram Micro for decades was the world’s largest IT distributor. However, its two biggest rivals, Tech Data and Synnex, merged in September 2021 to form a new company, TD Synnex, creating the new world leader in terms of IT distribution revenue.

An Ingram Micro spokesperson told CRN via email that the company is “not making any comments or statements at this time.”

Ingram Micro this year has been making a couple of moves that might better position itself for investors who might want to jump on the IPO. The distributor has gone through a number of small layoffs, including the laying off an unspecified number of employees and middle managers.

The company also plans to close its advanced logistics facility in O’Fallon, Mo., at the end of June, which it said will result in the elimination of 60 positions.