Clarios International, the car battery manufacturer owned by global investment firm Brookfield, has officially withdrawn its plans for an initial public offering (IPO) in the United States. The company, based in Milwaukee, Wisconsin, made the announcement on Monday but did not provide further details regarding the decision.
Clarios had initially filed for a U.S. IPO in 2021, with plans to raise up to $1.85 billion and achieve a valuation of approximately $11 billion. However, the company postponed its offering that same year due to market volatility and macroeconomic challenges, citing the need to reassess market conditions.
The decision to withdraw the IPO comes despite an increase in U.S. IPO activity, driven by a bullish equities market and the anticipation of business-friendly policies under the incoming Trump administration. Despite this, Clarios, which produces batteries used in vehicles globally, including in one-third of all cars on the road, decided against moving forward with its public listing at this time.
Brookfield acquired Clarios in 2019 for $13.2 billion, including debt, as part of a major acquisition from Johnson Controls International.
