Car-battery giant Clarios, Milwaukee, Wisconsin, United States, has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering (IPO) of its common stock that could reportedly value the company at more than $20B.The initial public offering is expected to commence after the SEC completes its review process, subject to market and other conditions. Clarios is a portfolio company of its sponsors, Brookfield Business Partners LP, (NYSE: BBU) (TSX: BBU.UN), a publicly listed business services and industrials company of Brookfield Asset Management Inc., and Caisse de dépôt et placement du Québec.
Clarios is a world leader in advanced energy storage solutions. We partner with our aftermarket and original equipment customers to meet increasing market demand for smarter applications, on a global scale. Our 16,000 employees develop, manufacture and distribute a portfolio of evolving battery technologies for virtually every type of vehicle. Our technologies deliver uniquely sustainable, next-generation performance, and bring reliability, safety and comfort to everyday lives. We add value at every link in the supply chain, ensuring that up to 99% of the materials in our batteries are recovered, recycled and reused, contributing to the progress of the communities we serve and the planet we all share. Clarios is a subsidiary of Brookfield Business Partners.