Thursday, October 29News That Matters

Pool gives retailer Leslie’s Inc recordsdata for U.S. IPO

(Reuters) – Pool gives retailer Leslie’s Inc filed for a U.S. initial public offering on Wednesday, searching to purchase succor of a renewed passion in easy listings as capital markets rebound from coronavirus-resulted in lows.

Private equity firm L Catterton-backed Leslie’s home a placeholder amount of $100 million and didn’t train the dimensions of its offering.

The list comes amid a surge in ask for yard swimming pools. All the blueprint by the USA and Europe, manufacturers and distributors of swimming swimming pools and scorching tubs are scrambling to meet a wave of ask as patrons cocoon at dwelling to flee the COVID-19 pandemic.

In July, Rival Pool Corp POOL.O reported memoir procure sales in the 2d quarter.

Reuters in August reported that L Catterton became making prepared an IPO of Leslie’s that would price it at extra than $3 billion.

L Catterton led a buyout community that sold Phoenix, Arizona-primarily primarily based totally Leslie’s in 2017.

Leslie’s has over 900 stores, and its merchandise encompass above-ground swimming pools, saunas and pool chemicals.

The firm intends to list total stock on Nasdaq below the logo “LESL”, per a filing. (bit.ly/2GB4gFp)

Goldman Sachs, Morgan Stanley and BofA securities are the underwriters for Leslie’s offering.

Reporting by Abhishek Manikandan in Bengaluru; Editing by Shinjini Ganguli

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