Industrials Company Madison Air Files Confidentially for US IPO
TL;DR
Madison Air Solutions Corp. has confidentially filed for a US IPO, indicating a growing trend of industrial companies going public. The Chicago-based firm, with over two dozen air quality brands, submitted a draft registration to the SEC, with details like share number and price range still undetermined.
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Madison Air Solutions Corp. filed confidentially for a US initial public offering, a signal that more industrial companies are joining the pipeline to go public in the new year.
The Chicago-based owner of more than two dozen air quality brands on Monday announced that it had submitted a draft registration statement on Form S-1 to the US Securities and Exchange Commission. The number of shares to be registered as well as the price range have not yet been determined, the company said.
The company’s portfolio of brands ranges from residential and commercial to high-impact sectors including data centers, advanced manufacturing, education and healthcare, it said in a May announcement. The brands range from controlled environment firm Conviron to heat and energy recovery company Innergy Tech and Quest, which makes humidity control products.
Companies typically pursue confidential IPO filings to maintain greater control over the process and limit reputation risk. This approach allows them to engage with regulators and respond to SEC feedback without public scrutiny. Publicly announcing a confidential filing, on the other hand, can serve strategic purposes such as building market momentum and gauging investor interest.