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Madison Air IPO Targets $2 Billion in Air Quality Market

Bloomberg Markets •
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Madison Air Solutions Corp., a provider of ventilation and filtration systems, filed for an initial public offering Monday. The company expects its shares to trade on the New York Stock Exchange under the symbol MAIR, marking a significant move in the air quality sector.

The offering is being led by Goldman Sachs Group Inc., Barclays Plc, Jefferies Financial Group Inc., and Wells Fargo & Co. Madison Air had previously filed confidentially for a listing, according to a statement in December. The company is seeking to raise at least $2 billion in its IPO, according to people familiar with the matter.

Madison Industries formed Madison Air through a series of acquisitions beginning in 2017, its website shows. The company's portfolio serves both residential and commercial clients across sectors including data centers, advanced manufacturing, education, and health care. This IPO comes as demand for air quality solutions has surged, particularly in the wake of increased health awareness.