Laboratory equipment supplier VWR Funding Inc., backed by private-equity firm Madison Dearborn Partners LLC, has hired Bank of America(BAC) Merrill Lynch, Goldman Sachs Group Inc.(GS) and J.P.Morgan Chase(JPM) & Co. to lead a potential initial public offering, according to people familiar with the matter.
The Wall Street Journal reported Thursday that VWR had in recent weeks interviewed banks to lead a potential $750 million IPO, which could value the equity in the business at around $4 billion. An outright sale of the company is also a possibility, a person familiar has said.
The hiring caps a busy week for Bank of America, which co-led the IPO of Chinese online retailer JD.com(JD). The stock jumped as much as 20% higher on its debut Thursday.
Bank of America now trails Goldman in Dealogic’s ECM league tables by a mere $176 million, with market share of 11.2% compared to Goldman’s 11.4%. Citigroup Inc.(C) is ranked third with 10.9%, followed by J.P.Morgan and Morgan Stanley(MS) with share of 10.5% and 10.1% respectively.
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It also marks another sizable mandate win for J.P.Morgan, which has been hired by Swedish operator Com Hem Holding AB to jointly lead an IPO that will raise around 5.5 billion Swedish kronor ($832.9 million).
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