Snap One Holdings, which provides a suite of smart home products and services to professional integrators, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Snap One provides provides an end-to-end smart product ecosystem and technology-enabled workflow solutions to a network of over 16,000 professional integrators to enable seamless experiences in connected homes and small businesses. The company's product ecosystem includes 2,800 proprietary SKUs as well as a curated set of third-party products. As of March 26, 2021, integrators using Snap One's remote management software platform reached approximately 345,000 active homes and businesses.
The Charlotte, NC-based company was founded in 2017 and booked $862 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol SNPO. Snap One Holdings filed confidentially on April 20, 2021. Morgan Stanley, J.P. Morgan, Jefferies, UBS Investment Bank, BMO Capital Markets, Raymond James, Truist Securities, and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.
