Baird's Investment Banking Group is pleased to announce the following transaction:

August 2021
Core & Main, Inc.
Initial Public Offering
Baird served as a bookrunner on this offering

Core & Main, Inc. (“Core & Main” or the “Company”) (NYSE: CNM), a portfolio company of Clayton, Dubilier & Rice, LLC (“CD&R”), recently completed an initial public offering of 34,883,721 Class A common stock at a price of $20.00 per share. The offering generated gross proceeds of $697.7 million. The Company will use the net proceeds from the initial public offering to repay certain indebtedness and for general corporate purposes.

Core & Main is a leading specialized distributor of water, wastewater, storm drainage and fire protection products and related services to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets nationwide. The Company’s specialty products and services are used in the maintenance, repair, replacement and construction of water and fire protection infrastructure. Core & Main is one of only two national distributors operating across large and highly fragmented markets, which is estimated to represent approximately $27 billion in annual spend. The Company is headquartered in St. Louis, Missouri.

Founded in 1978, Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on building stronger, more profitable businesses. Since inception, CD&R has managed the investment of more than $35 billion in 100 companies representing a broad range of industries with an aggregate transaction value of more than $150 billion. CD&R is headquartered in New York, New York.

For additional information about this transaction, please contact:

Jason Kliewer 1-813-273-8242
Sandy Walter +1-414-298-5118
Nick Troyer +1-813-273-8204
Jeff Seaman +1-312-609-4687
Thomas Fetzer +49-69-1301-4920
Rob Hamill +1-813-273-8243