HD Supply Holdings, a company spun off from Home Depot in 2007, filed forms late last week with the U.S. Securities and Exchange Commission to take the company public.
The now-private company would use the proceeds to repay or otherwise acquire HD Supply’s debt. HD Supply is an industrial distributor owned by three private equity firms: The Carlyle Group, Bain Capital and Clayton, Dubilier & Rice.
Home Depot owns about 12.5 percent of HD Supply’s common stock. It cost about $8.5 billion to take the company private. The offering is expected to raise $1 billion.
HD Supply, which reported earnings Friday, lost $713 million in the fourth quarter of 2012.
The company reported debt of $6.4 billion, up 17 percent from the same quarter a year ago. HD Supply has carried a heavy debt load since it was purchased by the private equity owners.
The members of the state ethics commission, eager to bring order to one of the most disordered corners of state government, hired a “receiver” last week to heal their agency and then did they only thing they could.
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