HD Supply Holdings, an industrial distribution company owned by a group of private equity firms, filed on Friday to go public.
The company, which was bought in 2007 near the height of the buyout boom, plans to use the proceeds from the initial public offering to pay down debt. It said it would aim to raise $1 billion in the I.P.O., but that amount is a placeholder that could change.
With more than 600 locations in the United States and Canada, HD Supply serves home builders, government entities, industrial businesses and other customers. Home Depot is its largest customer, accounting for about 4 percent of sales.
The private equity owners â€" the Carlyle Group, Bain Capital and Clayton Dubilier & Rice â€" have overseen a period of growth since buying the company from Home Depot. HD Supply generated $8 billion net sales for the fiscal year that ended Feb. 3, increase of 14.3 percent from the previous year.
The company reported total liabilities of $8.9 billion as of Feb. 3. Of its $7.3 billion of long-term debt, $5.2 billion is due after the 2017 fiscal year.
Bank of America Merrill Lynch, Barclays, JPMorgan Chase and Credit Suisse are among the banks handling the I.P.O.
The three private equity owners each hold about 28 percent of HD Supply, which is based in Atlanta. In the $8.5 billion buyout, Home Depot retained a stake of about 12.5 percent.
That deal, which was negotiated as credit markets were tightening, had some challenges getting done. Home Depot was forced to drop the sale price by nearly $2 billion in August 2007.
