HD Supply is going public

HD Supply Holdings, a group of private-equity firms that indirectly owns industrial distribution giant HD Supply, Atlanta, filed a registration statement with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of common stock. The company expects to use the proceeds from the offering to repay, redeem, repurchase or otherwise acquire or retire certain of the outstanding indebtedness of HD Supply, Inc., and for general corporate purposes. The sale is being led by BofA Merrill Lynch, Barclays, J.P. Morgan Securities, and Credit Suisse Securities (USA).

Separately, HD Supply reported financials for its fiscal 4Q 2012 and the year. Quarterly net sales increased $194 million, or 11.7 percent, as compared to the fourth quarter of fiscal 2011. Gross profit as a percent of net sales stayed flat at 29.4 percent. HD Supply generated $8 billion in net sales for the fiscal year (ended Feb. 3), an increase of 14.3 percent from the previous year.