Platinum Equity said to price Ingram Micro block at $29.35/shr

Platinum Equity, the private equity firm that acquired Ingram Micro in 2021, has priced a secondary offering of the company’s shares at $29.35 per share, according to recent filings and market activity. The offering involves the sale of a block of shares by Platinum Equity and its affiliates, with the proceeds expected to be used for general corporate purposes.

The offering price represents a significant increase from Ingram Micro’s initial public offering (IPO) price of $22 per share in October 2022, which marked the company’s return to the public markets after being taken private by HNA Group in 2006. On the first day of trading, Ingram Micro’s shares closed at $24.60, a 12% increase over the IPO price.

The secondary offering is part of a broader capital strategy by Ingram Micro and its largest shareholder, Platinum Equity, which has remained the controlling stakeholder since the 2021 acquisition. During Platinum Equity’s ownership, Ingram Micro has undergone significant operational improvements, including the acceleration of its digital transformation through the XVantage platform and a series of strategic acquisitions and divestitures.

The company has also focused on strengthening its core business by exiting non-core operations, such as the $3 billion sale of its Commerce & Lifecycle Services division to CMA CGM in 2022. These moves have contributed to Ingram Micro’s financial flexibility and its ability to reduce debt, with the company repaying $1.3 billion since April 2022.

The secondary offering is expected to settle on or about May 7, 2026, with underwriters including Morgan Stanley, Goldman Sachs, and J.P. Morgan Securities. The offering is being conducted under an automatic shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC).