Aggreko files for New York IPO after returning to profit

The power-equipment rental company reported $80 million in first-half net income after a $189 million loss a year earlier.

Aggreko filed for a US initial public offering after returning to profit as revenue increased, Bloomberg reported.

The Glasgow-based power-equipment rental company reported $80 million in net income on $1.92 billion of revenue in the six months ended July 4. A year earlier, it posted a $189 million loss on $1.5 billion in revenue.

Aggreko rents power, heating, and cooling equipment for uses including community solar projects, data centers, and events. Private-equity firms TDR Capital and I Squared Capital backed its $3.6 billion take-private deal in 2021.

The listing could value Aggreko at about $15 billion. Goldman Sachs, JPMorgan, and Bank of America are leading the offering, which is expected to trade on the New York Stock Exchange under AGKO.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Aggreko filed for a US initial public offering after returning to profit as revenue increased, Bloomberg reported.

The listing could value Aggreko at about $15 billion. Goldman Sachs, JPMorgan, and Bank of America are leading the offering, which is expected to trade on the New York Stock Exchange under AGKO.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.