HVAC firm Madison Air confidentially files for US IPO

Dec 15 (Reuters) - Heating, ventilation and air conditioning firm Madison Air Solutions said on Monday it has confidentially filed for an initial public offering in the United States, as corporate issuers look to capitalize on rebounding investor appetite for new listings.

The U.S. IPO market has bounced back after the longest-ever U.S. government shutdown temporarily derailed activity, setting up for the strongest year for new listings since 2021.

Analysts are expecting a strong start to the IPO market next year as companies that had to delay listing plans due to the shutdown could contribute to early 2026 momentum.

Blackstone-backed heating and cooling systems developer Copeland in November announced it had also confidentially filed for a New York IPO.

Madison Air was formed through a series of acquisitions beginning in 2017, according to its website. It was formerly known as Madison Indoor Air Quality.

The company was formed under the leadership of Larry Gies, the founder and CEO of privately-held Madison Industries.

Madison Air, led by CEO Jill Wyant, is a platform of more than two dozen air-quality brands such as Quest, Dectron, Santa Fe and Phoenix.

This year, Madison Air has bought Research Products Corporation and AcoustiFLO to strengthen its portfolio.

The price range and the number of shares for the proposed offering have not yet been determined, Madison Air said.

Confidential filings allow companies to keep their finances and offering terms away from public glare until closer to the actual listing.