Ceridian HCM Holding Inc., which went private in 2007 when it sold itself for $5.3 billion, plans to return to the public market with an initial public offering of stock of up to $200 million, according to a registration statement filed with the Securities and Exchange Commission.
Ceridian is a global workforce-management software company.
Its flagship platform, Dayforce, provides payroll, benefits and workforce-and-talent management services to more than 3,000 customers.
Dayforce revenue has grown at a compounded annual growth rate of more than 60 percent since 2012, according to the prospectus.
David Ossip, 51, the founder of Dayforce, became the CEO of the combined operation after Ceridian acquired Dayforce in 2012.
Ceridian, once known primarily as a payroll-processing company, has been broadened and deepened in the human capital management (HCM) business, according to the registration statement.
Ceridian lost $10.5 million in 2017, compared with $92.8 million in 2016.
Revenues rose 6.6 percent to $750.7 million last year.
The company said it has been investing in its growth in recent years.
"Our platform is used by organizations, regardless of industry or size, to optimize management of the entire employee life cycle, including attracting, engaging, paying, deploying, and developing their people," according to Ceridian's registration documents.
The Bloomington-based company employs 4,212, primarily in North America, Europe and Australia. It was created in 1992 when Control Data Corp. split into two companies to separate its information services business unit and its struggling computer enterprise.
The computer business, called Control Data Systems, was acquired in 1999 by Syntegra.
Ceridian went private through the $5.3 billion buyout by Thomas H. Lee Partners and insurer Fidelity National Financial months after activist hedge fund investor William Ackman acquired 15 percent of the company and demanded shareholder-enriching changes of management.
Ackman at first resisted the buyout, but later dropped his opposition.
Ceridian's two largest shareholders are Lee Partners and Cannae Holdings, which formerly was known as Fidelity National Financial.
Ceridian, whose "brand promise" is "Makes Work Life Better," is the most recent of several Minnesota companies that have sought to go public in the buoyant stock market that has seen a rise in public offerings. It's not clear what if any impact there will be from the recent market downturn.
Neal St. Anthony • 612-673-7144
