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Residential building products distributor Specialty Building Products files for a $100 million IPO

January 4, 2022

Specialty Building Products, a leading distributor of branded specialty building products in the US, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.

Specialty Building Products believes it is the largest and fastest growing distributor of branded specialty building products in the US. Thanks to a series of acquisitions and organic growth, SBP has grown revenue at an approximate CAGR of 25% over the last ten years, and now has a national presence with 38 locations serving 42 states and all provinces in Canada. Its operating brands include U.S. Lumber, Alexandria Moulding, Reeb, DW Distribution, and Millwork Sales, and its specialty product categories include composite decking and railing, exterior siding, exterior trim, weather resistant barriers, moulding, specialty doors, and engineered wood products. Primarily used in the residential housing market, SBP's comprehensive product portfolio contains over 37,000 SKUs, which are offered to more than 22,000 customer locations including national, regional and local professional dealers, home improvement retailers and other providers of building products.

The Duluth, GA-based company was founded in 1987 and booked $2.3 billion in revenue for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol SBP. Specialty Building Products filed confidentially on October 4, 2021. Barclays, Goldman Sachs, RBC Capital Markets, BofA Securities, Jefferies, Baird, Raymond James, Truist Securities, and WR Securities are the joint bookrunners on the deal. No pricing terms were disclosed.