The initial public offering (IPO) market in 2016 has been practically non-existent. With only 38 companies going public so far this year, Jim Cramer said that's downright anemic compared to the 170 deals in the first half of 2015.
Additionally, there haven't been many opportunities for IPOs that Cramer would consider even worthwhile —until now.
"Unlike so many IPOs we have seen in the past year, SiteOne has actually gotten off to a pretty good start," the "Mad Money" host said.
SiteOne Landscape Supply is the only nationwide wholesale distributor of landscape supplies in the U.S. Locations that span 44 states, and it distributes more than 90,000 different products. Essentially, it's a one-stop-shop for anything a landscape design.
The company went public in March at $21 per share, and shot up to $26.67 on its first day of trading. In the next few days it almost hit $30 before pulling back and has since traded sideways.