EXCLUSIVE-HD Supply picks underwriters to lead IPO -sources
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NEW YORK, March 15 (Reuters) - HD Supply, a one-time division of Home Depot Inc that was taken private for $8.5 billion in 2007, has chosen Bank of America Merrill Lynch , Barclays and JPMorgan Chase to lead a proposed initial public offering, people familiar with the matter said.
Credit Suisse Group is also among the four banks chosen to lead the IPO, which would come six years after private equity firms Bain Capital, Carlyle Group and Clayton, Dubilier & Rice led the buyout, the people said on Friday.
The people asked not to be named because the decision is not public. CD&R and Barclays declined to comment. Representatives for the other buyout firms and investment banks did not immediately respond to requests for comment.
Home Depot, which maintained a 12.5 percent stake in HD Supply as part of the 2007 buyout, did not immediately respond to requests for comment.
HD Supply is one of the largest distributors of construction, industrial and maintenance supplies in North America. The IPO would be the latest attempt to capitalize on the rebound in the U.S. housing sector.
Homebuilder TRI Pointe Homes Inc and Boise Cascade Co, whose products are used in new residential construction and remodeling projects, both went public earlier this year.
Taylor Morrison, which builds single-family homes and planned communities, is slated to go public in March, sources previously told Reuters.
Other newly public companies within the broader housing industry such as Realogy Holdings Corp have also seen their shares rise. Realogy, a real-estate services company, has seen shares soar 76 percent since going public in October.
(Editing by Steve Orlofsky and Matthew Lewis)