Glasgow-based Aggreko Inc. has filed a Form F-1 registration statement with the U.S. Securities and Exchange Commission for an initial public offering of ordinary shares on the New York Stock Exchange under the ticker AGKO.
The company, which provides mobile and modular temporary power, temperature control equipment, and energy services, has not yet disclosed the number of shares or the proposed price range for the offering. Aggreko operates a fleet of heavy-duty equipment, including diesel and gas generators, HVAC systems, and battery storage units, which it rents to industries and major international events.
For the fiscal year ending March 31, 2025, Aggreko reported net revenue of $3.4 billion, a 20% increase from the prior year. Adjusted EBITDA reached $1.3 billion, representing a margin of 37%. The company recorded a net loss of $113 million, while net interest expense totaled $647 million, including $249 million in unfavorable foreign exchange impacts.
Goldman Sachs & Co. LLC and J.P. Morgan are serving as co-lead underwriters for the IPO, with BofA Securities, Barclays, Morgan Stanley, Jefferies, Deutsche Bank Securities, UBS Investment Bank, Baird, Santander, Wolfe | Nomura Alliance, and Tigress Financial Partners also listed as underwriters, bringing the total syndicate to 12 firms.
