HD Supply Holdings Inc, the industrial and construction supplies distributor has filed for a US$1 billion initial public offering. The former division of Home Depot Inc has taken this step to take advantage of the recovering US housing industry.

The company was taken private by the consortium of Bain Capital, the Carlyle Group together with Clayton, Dubilier and Rice. The price tag for that change is US$8.5 billion in 2007, where each of the companies taking a 28% cut of the firm while Home Depot retains 12.4%.

HD Supply remains as one of the largest distributors of supplies for construction, industrial and maintenance projects in North America. 

The lead underwriters of the IPO are BofA Merill Lynch, Barclays, Credit Suisse and JP Morgan. The proceeds of the IPO would be utilized to repay debt and other corporate purposes. There was no disclosure as to the number of shares to be offered or the proposed price per share.