Madison Air prices IPO at $27 per share, raising $2.2 billion

Madison Air Solutions Corporation announced the pricing of its initial public offering of 82.7 million shares of Class A common stock at $27.00 per share. The company granted underwriters a 30-day option to purchase up to an additional 12.4 million shares at the IPO price, less underwriting discounts and commissions.

The shares are expected to begin trading on the New York Stock Exchange on April 16, 2026, under ticker symbol "MAIR." The offering is expected to close on April 17, 2026, subject to customary closing conditions.

Goldman Sachs & Co. LLC, Barclays, Jefferies and Wells Fargo Securities serve as lead bookrunning managers for the offering. BofA Securities, Citigroup, Baird, RBC Capital Markets, Guggenheim Securities, Santander, Wolfe | Nomura Alliance and CIBC Capital Markets act as book-running managers.

In a concurrent private placement, Madison Air agreed to sell $100.0 million of Class B common stock to an entity controlled by founder Larry Gies at the IPO price. The Class B shares will not be registered under the Securities Act of 1933. The private placement closing is expected to occur simultaneously with the IPO closing.

Madison Air operates as an air quality solutions provider for commercial and residential markets through brands including Addison, AprilAire, Big Ass Fans, Broan-NuTone, Nortek Air Solutions, Nortek Data Center Cooling and Reznor. The company focuses on helping customers improve performance, protect assets and create healthier indoor environments.

A registration statement for the securities has been filed with and declared effective by the U.S. Securities and Exchange Commission, according to the company's press release statement.

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