Apollo Global Management may not have confirmed it yet, but “a source close to the situation” has told The New York Post about the company’s plan to take its subsidiary, CEVA Logistics, public by April 2018 to the tune of $1.5 billion. The Loadstar inquired on the rumor and received a “no comment.”
If the planned initial public offering (IPO) is executed, it would be the second-biggest IPO of 2018. Apollo tried to take CEVA public in 2012, but pulled the offering after the company’s financial situation turned negative, according to the Post. In 2013, CEVA “ was forced to execute a debt-for-equity swap to escape its suffering debt load.”
The private equity firm had acquired a sizeable amount of CEVA’s discounted debt before giving the go-ahead for the swap.
CEVA recently relocated its HQ to Madrid in Spain. A global leader in supply chain management, CEVA moves out of Alcobendas to the Spanish capital. The new address – Avenida de Fuentemar 9, 28823, Coslada [Madrid] Spain – is near one of the major roads in the country. It is south of Barajas Airport.
CEVA’s Managing Director in Iberia, Marco Galbusera, emphasized the location advantages that the new address offers. “We have always considered the Coslada area as potentially the ideal location for our head office functions and this new building not only provides us with the capacity to expand as our business grows but it enables us to have warehouse capacity on the same site.”