Kitchen and bath products supplier FGI Industries files for an $18 million IPO

FGI Industries, a kitchen and bath products supplier being spun out of Foremost Groups, filed on Friday with the SEC to raise up to $18 million.

FGI states that it is a leading global supplier of kitchen and bath products currently focused on sanitaryware, bath furniture, shower systems, customer kitchen cabinetry, and other accessory items. The company sells its products through numerous customer partners, including mass retail centers, wholesale and commercial distributors, online retailers, and specialty stores.

The East Hanover, NJ-based company was founded in 1987 and booked $150 million in sales for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol FGI. The Benchmark Company and Northland Securities are the joint bookrunners on the deal. No pricing terms were disclosed.