Business

Report: CDW hires banks to handle IPO

Posted March 08, 2013 9:46 am

Daily Herald Staff reports

Vernon Hills-based CDW has hired banks to handle an initial public offering planned for later this year, according to published reports.

The Reuters news agency quoted unnamed sources that the IT product and services retailer has hired JPMorgan Chase, Barclays PLC and Goldman Sachs Group to lead the IPO efforts. The offering could raise about $750 million for the company, according to Reuters’ sources.

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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