BJ's Wholesale Club prepares for an IPO

Firms that own BJ's Wholesale Club are readying an initial public offering in the coming months, The Wall Street Journal reports.
The company's filed confidential registration and could start trading as soon as May, according to the report.

It's owned by private-equity firms Leonard Green & Partners and CVC Capital Partners, which are looking to raise at least $400M, valuing the business at $2B-$3B.

They started talking about a sale or IPO of BJ's last year, only to find other PE firms as interested buyers.