Home improvement retailer Floor and Decor eyes IPO: sources
April 7(Reuters) - Floor & Decor's private equity owners are planning an initial public offering later this year and are preparing to interview banks in the next few weeks, people familiar with the matter said on Monday.
Floor & Decor, a flooring and tile products retailer, is owned by private equity firms Ares International LLC and Freeman Spogli & Co.
Founded in 2000, the Atlanta-based company has over 30 locations throughout the United States, according to its website. Floor and Decor's stores range in size from 60,000 to 100,000 square feet (5,570 and 9,290 sq metres) and they each stock around 2,500 products.
The company was acquired in 2010 by Ares and Freeman Spogli from an investor group including Najeti Ventures LLC, Saugatuck Capital Company, and TWJ Capital LLC.
The people familiar with the matter declined to be named because the matter is private.
Floor & Decor offers tile, stone wood and laminate flooring, as well as tools and accessories for flooring projects.
A potential IPO for Floor & Decor comes amid a broader U.S. housing recovery, which has traditionally benefited home improvement and furnishing retailers.
A spokesperson for Floor & Decor declined to comment. Ares and Freeman Spogli could not immediately be reached for comment. (Reporting by Olivia Oran and Greg Roumeliotis in New York; Editing by Jonathan Oatis)
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