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updated: 6/14/2013 10:25 AM

CDW files for IPO, expects to raise $738 million

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  • CDW in Vernon Hills has filed for an initial public offering, seeking to raise $738 millions.

      CDW in Vernon Hills has filed for an initial public offering, seeking to raise $738 millions.
    Daily Herald file photo, 2001

Daily Herald Staff report

Vernon Hills-based CDW filed an initial public offering with the Securities and Trade Commission today, offering 29.7 million shares of stock which the company hopes will raise $738 million.

CDW said in the filing the company will offer 23.4 million shares of stock, with stockholders proving the rest at a value of between $20 and $23 per share. Underwriters have an option to purchase up to 4.2 million additional shares from the selling stockholders to cover overallotments, according to the filing.

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CDW, one of the country's largest resellers of computer products and software, was acquired by equity firms Madison Dearborn Partners LLC and Providence Equity Partners for $7.3 billion and taken private in 2007. The company was founded in 1984 by entrepreneur Michael Krasny, according to the company's website, and in 2012 generated $10.1 billion in net sales.

CDW has more than 6,800 employees working in 25 locations in North America and ranks 270 in the Fortune 500 Information Technology Services category.

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