UK power equipment rental firm Aggreko files for US IPO
Aggreko had net income of $80 million for the six months ended July 4
Aggreko Plc filed for a US initial public offering, revealing the private equity-backed power equipment rental company turned profitable as revenue increased.
The Glasgow-based company had net income of $80 million on revenue of $1.92 billion in the six months ended July 4, according to a filing Monday with the US Securities and Exchange Commission. That compares to a net loss of $189 million on revenue of $1.5 billion in the corresponding period in 2025.
Backed by private equity firms TDR Capital and I Squared Capital, Aggreko rents out power, heating and cooling equipment, and provides fuel, logistics and technical services to customers, as well as engineering, procurement and construction services, the filing shows. It also offers design and project management for customers who may then work with third parties supplying power.
The company’s technology is used in everything from community solar energy projects to data centers and events such as the 2018 Winter Olympic Games in South Korea.
A listing for Aggreko could value the company at about $15 billion, people familiar with the matter have said.
The past year has seen a flurry of listings from industrial companies that serve data center customers looking to tap the boom in artificial intelligence-related spending, with Innio NV and Madison Air Solutions Corp. raising more than $2.5 billion each.
TDR and I Squared teamed up to take Aggreko private in a $3.6 billion deal in 2021.
Goldman Sachs Group Inc., JPMorgan Chase & Co. and Bank of America Corp. are leading the offering. Aggreko expects to list on the New York Stock Exchange under the symbol AGKO.
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