Core & Main, a leading distributor of pipes and other industrial water infrastructure products, raised $698 million by offering 34.9 million shares at $20, the low end of the range of $20 to $23.
Core & Main is a distributor of water infrastructure products that connects 4,500 suppliers to over 60,000 municipal, non-residential, and residential customers. The company believes its scale and technical expertise allow customers to build and maintain water, wastewater, storm drainage, and fire protection infrastructure solutions.
Core & Main plans to list on the NYSE under the symbol CNM. Goldman Sachs, Credit Suisse, J.P. Morgan, BofA Securities, Baird, Citi, RBC Capital Markets, Barclays, and Deutsche Bank acted as joint bookrunners on the deal.
