Background
SiteOne Landscape Supply (SITE) "is a wholesale distributor of irrigation supplies, fertilizer and control products (e.g., herbicides), landscape accessories, nursery goods, hardscapes (including paving, natural stone and blocks), outdoor lighting and ice melt products to green industry professionals." (10-K)
Founded in 2001, SITE was known as John Deere Landscapes, before CD&R invested in 2013, and in 2015 they rebranded as SiteOne. 2016 saw their IPO at $29, which has increased 4x since. They are now the largest in the business, capturing 12% of a $20B market. SITE derives