Lumber Liquidators in IPO

November 15, 2007

Cleary Gottlieb represented Lumber Liquidators, Inc. in its $110 million initial public offering on the NYSE, which consisted of a $38.9 million primary offering and a $63.4 million secondary offering of shares by the company’s founder, Tom Sullivan, and funds managed by TA Associates, Inc., a Boston-based private equity firm. Goldman, Sachs & Co. and Merrill Lynch & Co. were the lead underwriters for the transaction. The offering priced on November 8 and closed on November 15. Following the IPO, Tom Sullivan and TA Associates control approximately 37% and 22% of Lumber Liquidator’s outstanding common stock, respectively.

Lumber Liquidators is a specialty retailer of hardwood flooring, offering a selection of hardwood flooring products under multiple brands. Lumber Liquidators opened its first retail store in 1996 and now sells its products through over 110 stores located across the United States, a call center, and its Website and catalog.