Offering raises more than US$400 million in tech firm’s return to public markets

 

Executives from Platinum Equity-backed Ingram Micro rang the bell at the New York Stock Exchange recently to celebrate the global technology distributor’s return to the public markets.

 

After the first day of trading, the company’s shares closed at US$24.60 each (versus IPO price of US$22), giving Ingram Micro a market value of US$5.8 billion, based on the company’s outstanding shares.

 

Platinum Equity, owner of Winc Australia/NZ,  remains Ingram Micro’s largest shareholder.

 

Founded in 1979 and headquartered in California, Ingram Micro is one of the world’s leading technology distributors, connecting IT suppliers with thousands of businesses across the globe.

 

Its extensive portfolio includes products and services in cloud computing, cybersecurity, infrastructure, and supply chain solutions from 1500 vendors to more than 161,000 customers.

 

Ingram Micro first went public in 1996 and traded on the NYSE until 2006 when it was taken private by Chinese conglomerate HNA Group. 

 

Platinum Equity acquired Ingram Micro as a carve-out from HNA in 2021.

 

During Platinum Equity’s ownership, Ingram Micro embarked on a comprehensive operational improvement plan, accelerated its digital transformation initiatives, and used buy and sell-side M&A to sharpen the company’s focus on its core business.