Sandy Springs-based First Data files to go public

First Data, the major payments processor based in Sandy Springs, filed on Monday for an initial public offering.

The move would return the company to the stock market about eight years after private equity firm KKR & Co. took the company private in a massive leveraged buyout.

The 2007 acquisition happened as the economy tanked, and First Data was saddled with debt and tepid growth. The company said in the prospectus it plans to use the proceeds to pay down debt.

KKR will continue to control a majority of the company’s shares, according to the filing with the Securities and Exchange Commission. The expected value of the IPO is not immediately known.

First Data reported $11.15 billion in revenue in 2014, up 3.2 percent from 2013, according to the filing. Net loss was $458 million last year, an improvement from $869 million in 2013. The losses were largely the result of the heavy debt burden.

The company has more than 24,000 employees worldwide.

About the Author

Norfolk Southern sale puts major Atlanta philanthropic force in question

For metro Atlanta philanthropic causes that enjoy Norfolk Southern's support, there are unanswered questions about how committed the company will be after it is acquired.

How Home Depot’s newest AI tool could give it an edge with pro contractors

The Vinings-based home improvement retailer said Wednesday it has launched a new tool that creates a complete materials list and quote for a single-family project.

2h ago

Home Depot cuts outlook amid housing slump and consumer uncertainty

Home Depot said its net income dipped to $3.6 billion during the third quarter, down 1.3% from the same period last year.

The Latest

Credit: Special

Beyond the odometer: What matters most in a used car

Why your car’s safety tech needs maintenance, too

OPINION

Saying goodbye to the Porsche 718 Cayman — for now

Featured

Credit: Arvin Temkar / AJC

Lt. Gov. Burt Jones scores another victory over use of campaign cash

Lt. Gov. Burt Jones appears to have scored another victory over Attorney General Chris Carr as the Republican gubernatorial candidates battle over campaign finance issues.

Falcons QB Michael Penix Jr.’s season is over; needs surgery to repair ACL

Michael Penix Jr., whom the Falcons hoped was their quarterback of the future, will undergo season-ending surgery to repair a partially torn ACL in his left knee.

Typewriter Tom fuels a growing interest in analog writing devices

Roswell's Tom Rehkopf owns about 1,000 typewriters, which he tinkers with at his workshop and happily shares with fellow aficionados, curious youngsters and even Tom Hanks.