Specialty Constructing Merchandise (SBP) has withdrawn its utility for a $100M preliminary public providing, in accordance with its newest SEC submitting.
The distributor of residential constructing supplies had initially filed for the IPO in January 2022. The corporate up to date its submitting in April, indicating it was seeking to raise $100M, a quantity that was probably a placeholder and topic to alter.
Primarily based in Georgia, Specialty Constructing Merchandise distributes residential constructing supplies akin to siding, molding, trim, composite decking and railings to skilled sellers and residential enchancment retailers. The corporate has operations all through Canada and in 42 states.
For a extra in-depth have a look at the corporate, try SA contributor Donovan Jones’s “Specialty Building Products Begins US IPO Effort”.