07/12/2021

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Clarios, the former Johnson Controls battery unit, files for IPO

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Motor vehicle battery provider Clarios Intercontinental Inc., the previous Johnson Controls unit backed by Brookfield Asset Management, filed for an original community presenting, disclosing escalating revenue and losses.

Clarios in its filing Friday shown the dimensions of the presenting as $one hundred million, a placeholder that will improve when it sets phrases for the share sale.

Clarios said in a statement in May possibly that it had filed confidentially for an IPO. Brookfield, which obtained Clarios in 2019, was looking for to have the portfolio firm valued at additional than $twenty billion in an IPO, Bloomberg News described in February.

Listing designs for Wisconsin-based mostly Clarios occur two several years after Brookfield gained an auction to invest in the company from Johnson Controls Intercontinental for $thirteen billion. The firm, which creates batteries for gasoline-motor autos, has concentrated on operational improvements to boost earnings, Bloomberg described.

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