Stock Building Supply Holdings files for up to $175 million IPO

Fri Jun 14, 2013 6:51pm EDT

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(Reuters) - Stock Building Supply Holdings Inc filed with regulators to raise up to $175 million in an initial public offering, the latest building supplier looking to tap the market to take advantage of a U.S. housing recovery.

North Carolina-based Stock Building Supply, which is backed by buyout firm Gores Group, sells lumber and building materials to new construction, and repair and remodel contractors.

A number of private equity firms are looking to capitalize on a housing rebound and a rallying stock market to exit their investments in the sector.

Industrial and construction supplies company HD Supply Holdings Inc said this week that it planned to raise over $1 billion from an IPO.

Shares of Taylor Morrison Home Corp (TMHC.N), backed by TPG Capital and Oaktree Capital Management, have risen 15 percent since the homebuilder's $628 million IPO in April.

Stock Building Supply operates in 13 states of the United States that accounted for about 48 percent of 2012 single-family housing permits, the company said in a regulatory filing, citing Census Bureau data.

The company posted a net loss of $4.77 million on net sales of $248.7 million in the first quarter of 2013.

Stock Building Supply, which plans to list its shares on the Nasdaq, said Goldman Sachs, Barclays and Citigroup are acting as lead underwriter to the offering. It did not reveal how many shares the company planned to sell or their expected price.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

(Reporting by Aman Shah in Bangalore; Editing by Maju Samuel)

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