Aramark, the $13.5 billion professional services company, has filed with the U.S. Securities and Exchanges Commission for an initial public offering of its stock.
Aramark is based in Philadelphia, and counts the Prudential Center, in Newark, and the Izod Center, in the Meadowlands Sports Complex of East Rutherford, among its clients in the state. The company provides food services, hospitality and facilities management and uniform services, and is ranked No. 19 on Forbes' list of America's largest private companies.
The IPO, however, will change that. Aramark filed a registration statement with the SEC on Monday, but said the number of shares to be offered and the price of those shares have not yet been determined.
In a press release, the company said the net proceeds from the IPO will be used to repay debt.
This IPO is the third in the company's history. It has gone public twice before, in 1960 and in 2001, before being taken private again in 1984 and 2007.