Core & Main, Inc.
We are a leading specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets nationwide. Our specialty products and services are used in the maintenance, repair, replacement and construction of water and fire protection infrastructure. We are one of only two national distributors operating across large and highly fragmented markets, which we estimate to represent approximately $27 billion in annual spend.
Through our network of approximately 285 branch locations in 47 states and approximately 170 metropolitan statistical areas (“MSAs”) across the U.S., we serve as a critical link between over 4,500 suppliers and a diverse and long-standing base of over 60,000 customers. Given our scale, technical expertise and the specialized and critical nature of the products we distribute, we believe we have been, and will continue to be, well-positioned to drive the adoption of new technologies that enhance the way water is managed, distributed and used. We believe that our sales reach, technical knowledge, broad product portfolio, customer service, project planning and delivery capabilities, and ability to provide local expertise nationwide, make us a critical partner to both our customers and suppliers. We are well-positioned to benefit from industry trends in our end markets, including infrastructure spending to repair and upgrade existing aged infrastructure or to advance water conservation.
(Note: Core & Main priced its IPO on July 22, 2021, at $20 – the low end of its $20-to-$23 range – on 34.88 million shares, the same number of shares in the prospectus, to raise $749.92 million.)
|Industry:||Wholesale Durable Goods - Water mains, wastewater pipes, etc.|
|Address||1830 Craig Park Court St. Louis, Missouri 63146|
|Phone Number||(314) 432-4700|
|View Prospectus:||Core & Main, Inc.|
|Revenues||$3855.3 mil (last 12 months)|
|Net Income||$72.5 mil (last 12 months)|
|Price range||$20.00 - $20.00|
|Est. $ Volume||$749.9 mil|
|Manager / Joint Managers||Goldman Sachs/ Credit Suisse/ J.P. Morgan/ BofA Securities/ Baird/ Citigroup/ RBC Capital Markets/ Barclays/ Deutsche Bank Securities|
|CO-Managers||Truist Securities/ Nomura/ Natixis/ Drexel Hamilton/ R. Seelaus & Co./ Ramirez & Co./ Siebert Williams Shank|
|Expected To Trade:||7/23/2021|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|