CDW Corporation (CDW) IPO Opens Mildly Higher

June 27, 2013 10:25 AM EDT Send to a Friend
CDW Corporation (NASDAQ: CDW) IPO opened at $17.64 per share after pricing 23,250,000 shares of common stock at a price to the public of $17.00 per share, the low end of the expected $17-$18 range.

J.P. Morgan, Barclays and Goldman, Sachs & Co. are serving as joint book-running managers in the IPO. Additional book-running managers are Deutsche Bank Securities and Morgan Stanley. Robert W. Baird & Co. Incorporated, Raymond James & Associates, Inc., William Blair & Company, L.L.C., Needham & Company, LLC, Stifel, Nicolaus & Company, Incorporated, Loop Capital Markets LLC and The Williams Capital Group, L.P. are also acting as managing underwriters of the offering.

CDW is a Fortune 500 company and a leading provider of integrated information technology solutions in the U.S. and Canada.

In 2012, net sales, Adjusted EBITDA, net income and non-GAAP net income were $10.1 billion, $767 million, $119 million and $247 million, respectively. For the three months ended March 31, 2013, net sales, Adjusted EBITDA and non-GAAP net income were $2.4 billion, $179 million and $56.3 million, respectively.

CDW Corporation was a public company from 1993 until October 2007, when we were acquired by newly formed entities controlled by Madison Dearborn Partners and Providence Equity Partners in a transaction valued at approximately $7.4 billion.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

IPOs, Private Equity

Related Entities

Deutsche Bank, William Blair, JPMorgan, Raymond James, Morgan Stanley, Robert W Baird, Needham & Company, Barclays, Providence Equity Partners, Madison Dearborn Partners

Add Your Comment