Latest news with #Legence
Reuters
2 days ago
- Business
- Reuters
Blackstone-backed Legence reveals revenue rise but wider loss in US IPO filing
Aug 15 (Reuters) - Blackstone (BX.N), opens new tab-backed engineering and maintenance service provider Legence revealed that losses nearly tripled in the first six months of 2025 in its paperwork for an initial public offering in the U.S. The terms of the proposed public offering were not disclosed in the filing made public on Friday. The U.S. IPO market has seen a resurgence in activity with a flurry of companies coming forward to list their shares to tap growing investor confidence, after a slowdown in April due to trade policy changes. Recent employment data points to a softer macroeconomic outlook but raises the chances of near-term rate cuts and lower volatility, potentially boosting positive IPO sentiment into the fall season, said IPOX research associate Lukas Muehlbauer. Transit-tech firm Via also publicly filed to go public in New York on Friday. Shares of cryptocurrency exchange Bullish (BLSH.N), opens new tab more than doubled in their New York debut earlier in the week, while space tech firm Firefly Aerospace also received a blockbuster response earlier in the month. Blackstone, the world's largest alternative asset manager, acquired Legence from private equity firm Gemspring Capital in 2020. The San Jose, California-based company offers services for the built environment, including sustainability, consulting and green construction, helping clients reduce operating costs and carbon emissions. Net loss attributable to the company came in at $26.5 million on a revenue of $1.10 billion in the first six months of 2025, compared with a loss of $8.8 million on a revenue of $989.6 million in a year ago. Over the years, Legence has bulked up through acquisitions of rivals such as Corporate Sustainability Strategies, P2S, A.O. Reed and OCI Associates. Blackstone last month said it is preparing more companies to go public than any other time since the record IPO year of 2021. Goldman Sachs and Jefferies are the lead book-running managers for the offering. The company intends to list its shares on Nasdaq under the ticker symbol 'LGN'.
CTV News
2 days ago
- Business
- CTV News
Blackstone-backed Legence files for U.S. IPO
Engineering and maintenance service provider Legence, which is backed by the world's largest alternative asset manager Blackstone, said on Friday it had filed for an initial public offering in the United States. Engineering and maintenance service provider Legence, which is backed by the world's largest alternative asset manager Blackstone, said on Friday it had filed for an initial public offering in the United States. The terms of the proposed public offering were not disclosed. The U.S. IPO market has seen a resurgence in activity with a flurry of companies coming forward to list their shares to tap growing investor confidence, after a slowdown in April due to trade policy changes. Transit-tech firm Via also publicly filed to go public in New York on Friday. Shares of cryptocurrency exchange Bullish more than doubled in their New York debut earlier in the week, while space tech firm Firefly Aerospace also received a blockbuster response earlier in the month. In 2020, Blackstone acquired Legence from private equity firm Gemspring Capital. Before the deal, the company was known as Therma Holdings. The San Jose, Calif.-based company offers services for the built environment, including sustainability, consulting and green construction, helping clients reduce operating costs and carbon emissions. Over the years, Legence has bulked up through acquisitions of rivals such as Corporate Sustainability Strategies, P2S, A.O. Reed and OCI Associates. Blackstone last month said it is preparing more companies to go public than any other time since the record IPO year of 2021. Goldman Sachs and Jefferies are the lead book-running managers for the offering. The company intends to list its shares on Nasdaq under the ticker symbol 'LGN.' (Reporting by Arasu Kannagi Basil and Pritam Biswas in Bengaluru; Editing by Vijay Kishore)
Yahoo
2 days ago
- Business
- Yahoo
Engineering service firm Legence files for US IPO
(Reuters) -Engineering and maintenance service provider Legence said on Friday it had filed for an initial public offering in the United States. The U.S. IPO market has seen a resurgence in activity with a flurry of companies coming forward to list their shares to tap growing investor confidence, after a slowdown in April due to trade policy changes. Shares of cryptocurrency exchange Bullish more than doubled in their New York debut earlier in the week. Goldman Sachs and Jefferies are the lead book-running managers for the offering. The company will list its shares on Nasdaq under the ticker symbol "LGN". Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
2 days ago
- Business
- Reuters
Engineering service firm Legence files for US IPO
Aug 15 (Reuters) - Engineering and maintenance service provider Legence said on Friday it had filed for an initial public offering in the United States. The U.S. IPO market has seen a resurgence in activity with a flurry of companies coming forward to list their shares to tap growing investor confidence, after a slowdown in April due to trade policy changes. Shares of cryptocurrency exchange Bullish (BLSH.N), opens new tab more than doubled in their New York debut earlier in the week. Goldman Sachs and Jefferies are the lead book-running managers for the offering. The company will list its shares on Nasdaq under the ticker symbol "LGN".
Business Wire
2 days ago
- Business
- Business Wire
Legence Files Registration Statement for Proposed Initial Public Offering
SAN JOSE, Calif.--(BUSINESS WIRE)--Legence Corp. today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the 'SEC') relating to a proposed initial public offering of shares of its Class A common stock. Legence has applied to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol 'LGN.' The number of shares to be offered and the price range for the proposed offering have not yet been determined. Goldman Sachs & Co. LLC and Jefferies are acting as joint lead book-running managers. BofA Securities, Barclays, Morgan Stanley, RBC Capital Markets, SOCIETE GENERALE, BMO Capital Markets, Cantor, Guggenheim Securities, Wolfe | Nomura Alliance, MUFG, Roth Capital Partners, Santander, Stifel, TD Cowen, BTIG and Rothschild & Co are acting as bookrunners, and Blackstone Capital Markets is acting as co-manager for the proposed offering. The proposed offering will be made available only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526, or by email at prospectus-ny@ and Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at 1-877-821-7388, or by email at prospectus_department@ A registration statement on Form S-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size, price or other terms of the offering. About Legence Legence is a leading provider of engineering, consulting, installation, and maintenance services for mission-critical systems in buildings. The company specializes in designing, fabricating, and installing complex HVAC, process piping, and other mechanical, electrical and plumbing (MEP) systems—enhancing energy efficiency, reliability, and sustainability in new and existing facilities. Legence also delivers long-term performance through strategic upgrades and holistic solutions. Serving some of the world's most technically demanding sectors, Legence counts over 60% of the Nasdaq-100 Index among its clients.
