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Pool supplies retailer Leslie's Inc files for U.S. IPO

Oct 7 (Reuters) - Pool supplies retailer Leslie’s Inc filed for a U.S. initial public offering on Wednesday, looking to take advantage of a renewed interest in new listings as capital markets rebound from coronavirus-induced lows.

Private equity firm L Catterton-backed Leslie’s set a placeholder amount of $100 million and did not disclose the size of its offering.

The listing comes amid a surge in demand for backyard pools. Across the United States and Europe, manufacturers and distributors of swimming pools and hot tubs are scrambling to meet a wave of demand as consumers cocoon at home to escape the COVID-19 pandemic.

In July, Rival Pool Corp reported record net sales in the second quarter.

Reuters in August reported that L Catterton was preparing an IPO of Leslie’s that could value it at more than $3 billion.

L Catterton led a buyout group that bought Phoenix, Arizona-based Leslie’s in 2017.

Leslie’s has over 900 stores, and its products include above-ground pools, saunas and pool chemicals.

The company intends to list common stock on Nasdaq under the symbol "LESL", according to a filing. (bit.ly/2GB4gFp)

Goldman Sachs, Morgan Stanley and BofA securities are the underwriters for Leslie’s offering.

Reporting by Abhishek Manikandan in Bengaluru; Editing by Shinjini Ganguli

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