Texas Fire-Pit Maker Solo Stove Planning IPO This Year
Texas Fire-Pit Maker Solo Stove Is Said to Plan IPO This Year
(Bloomberg) -- Solo Stove, a maker of fire pits for homes, is planning an initial public offering as soon as this year, according to people familiar with the matter.
The company had asked prospective advisers to pitch for a role on the listing, the people said, asking not to be identified discussing confidential information. Solo Stove could be valued at more than $1 billion in any IPO, the people said.
The so-called stay-at-home trade has led to multiple home-goods listings as sales rose during the coronavirus pandemic. Barbecue makers Traeger and Weber Inc., as well as grill retailer BBQGuys, are all planning public market debuts, Bloomberg News has reported.
Solo Stove Chief Executive Officer John Merris declined to comment.
Private equity firm Bertram Capital invested in Solo Stove in 2019 for an undisclosed amount, according to a statement at the time. The company’s backers also include Summit Partners.
Based in Southlake, Texas, Solo Stove makes low-smoke fire pits, grills and accessories, according to its website. It also sells baseball caps and T-shirts bearing the company’s name and logo.
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