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July 5th, 2010
Univar plans $826M IPO (PSBJ - Seattle)
Chemical distributor Univar plans $862M IPO
Wednesday, June 30, 2010 - Puget Sound Business Journal (Seattle)
In one of the biggest IPOs in recent memory in Washington state, Univar Inc. said it plans an initial public offering of its stock that could raise $862 million.
In a filing with the Securities and Exchange Commission, the Redmond-based chemical distributor didn’t place a price on the shares. It did report that in 2009, it generated $7.2 billion in net sales from the distribution of approximately 5.4 million metric tons of chemicals, “making us one of the world’s largest independent chemicals distributors.”
Univar was founded in Seattle in 1924. In 1986, Univar acquired McKesson Chemical to become the largest chemicals distributor in North America. In 2001, it acquired Ellis & Everard, which specialized in distribution of chemicals in the United Kingdom and Ireland and in 2007, it acquired Chemcentral. Univar was a public company on the New York Stock Exchange until it was acquired by a Dutch company in 1996.
Univar said it employed 6,842 persons worldwide as of March 2010, including at its Redmond two-building headquarters at 17425 N.E. Union Hill Road and a warehouse-office building in Kent. John Zillmer, 54, has been president and CEO since October 2009.