initial public offerings (IPOs) trading on American exchanges

Saturday, January 16, 2021

PurposeBuilt Brands Files for IPO

PurposeBuilt Brands, which provides specialty cleaning and disinfecting products, filed on Friday with the Securities and Exchange Commission to raise up to $100 million in an initial public offering. 

PurposeBuilt Brands offers specialty cleaning and disinfecting products from a portfolio of household cleaning brands. These commercial and specialty cleaning brands include Urnex, Five Star, Opti-Cide, Weiman, Goo Gone and Wright's. Available in over 475,000 stores, PurposeBuilt Brands sells its products through national retailers in the the home improvement, mass, hardware and grocery sectors. 

The Gurnee, IL-based company was founded in 1941 and booked $265 million in sales for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol PBLT. PurposeBuilt Brands filed confidentially on November 25, 2020. Barclays, Morgan Stanley, Goldman Sachs, Baird, BofA Securities, Credit Suisse and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.

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