Kohlberg Kravis Roberts is reportedly in the final stages of planning an initial public offering for its portfolio company Dollar General. The company is a small-box discount retailer with 8,400 stores in 35 states and revenues of $10.5 billion. It was acquired by KKR in 2007 in a deal valued at $7.3 billion that included about $2.5 billion of equity. KKR's capital markets arm will be one of the company's underwriters in an attempt to show that it is not merely a buyout firm as it prepares to go public itself.
In addition to a number of private equity-backed companies reportedly preparing to file for IPOs, there are already 41 PE-backed companies currently in IPO registration, according to the PitchBook Platform. In total, the companies are hoping to raise over $15 billion. Companies that could go public soon include Education Management Corporation (Providence Equity Partners, GS Capital Partners and Leeds Equity Partners), Ellora Energy (Yorktown Partners) and GT Solar (GFI Energy Ventures, Angeleno Group and Oaktree Capital Management). However, some still see the markets as unfavorable; The Carlyle Group recently withdrew Vought Aircraft's IPO registration.