Key facts
- Aggreko's owners, TDR Capital and I Squared Capital, are preparing for a US IPO.
- The potential valuation for Aggreko is around $15 billion.
- Goldman Sachs, JPMorgan, and Bank of America have been appointed to manage the IPO process.
- The listing could occur in the second half of 2026.
- Aggreko's revenues increased to £2.2 billion in 2023 from £1.76 billion in 2022.
Aggreko, a global provider of temporary energy and temperature control solutions, is reportedly advancing plans for an initial public offering (IPO) on a New York stock exchange. The company's current private equity owners, TDR Capital and I Squared Capital, have engaged investment banks Goldman Sachs, JPMorgan, and Bank of America to manage the process. The IPO could value Aggreko at approximately $15 billion, with a listing potentially occurring in the second half of 2026. This move follows Aggreko's acquisition and delisting from the London Stock Exchange in 2021 for about £2.3 billion. Since going private, Aggreko has demonstrated strong financial performance, with revenues increasing from £1.76 billion in 2022 to £2.2 billion in 2023. Analysts project continued double-digit revenue growth between 13% and 14% for 2025 and 2026. The company's equipment serves clients in sectors such as data centers and large-scale events. The decision to pursue a US listing aligns with a trend of UK firms seeking access to deeper capital markets in the United States.