SiteOne Landscape Supply has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). No terms were set in the filing, but the offering is valued up to $100 million, although this number is normally just a placeholder. The company intends to list on the New York Stock Exchange under the symbol SITE.

The underwriters for the offering are Deutsche Bank, Goldman Sachs and UBS Investment Bank.

This company is the largest and only national wholesale distributor of landscape supplies in the United States and it has a growing presence in Canada. Customers are primarily residential and commercial landscape professionals who specialize in the design, installation and maintenance of lawns, gardens, golf courses and other outdoor spaces.

Through its expansive North American network of 471 branch locations in 44 states and five provinces, the company offers a comprehensive selection of more than 90,000 items, including irrigation supplies, fertilizer and control products, landscape accessories, nursery goods, hardscapes, outdoor lighting and ice melt products. SiteOne also provides complementary, value-added consultative services to support its product offering and to help customers operate and grow their businesses.

Based on net sales for the fiscal year ended December 2014, SiteOne estimates that it is nearly four times the size of its largest competitor and larger than the next 15 companies in the industry combined. The company believes, based on management’s estimate, it has either the number one or number two local market position in over 80% of the geographic markets where it operates. SiteOne has a diverse base of over 175,000 customers, and its top 10 customers accounted for about 5% of net sales in fiscal 2014.

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In the filing the company detailed its finances as:

Our organic and acquisition-driven growth strategies have led to significant increases in net sales and Adjusted EBITDA. For our 2014 Fiscal Year, we generated net sales of $1.2 billion and Adjusted EBITDA of $87.6 million, compared to net sales and Adjusted EBITDA of $1.1 billion and $67.6 million, respectively, for the 2013 Predecessor Period and 2013 Successor Period. For the fiscal six months ended June 28, 2015, we generated net sales of $707.3 million and Adjusted EBITDA of $60.8 million, compared to net sales of $600.9 million and Adjusted EBITDA of $51.4 million for the fiscal six months ended June 29, 2014.

As for the net proceeds from this offering, the company plans to use them for working capital and other general corporate purposes, including repaying indebtednesss.

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