Madison Air begins IPO roadshow for 82.7 million shares

Madison Air announced the launch of its roadshow for a proposed initial public offering of 82,692,308 shares of common stock. The company expects to price the shares between $25.00 and $27.00 per share.

The air quality company plans to list on the New York Stock Exchange under the ticker symbol "MAIR." Madison Air stated it intends to use net proceeds from the offering to repay certain debt obligations.

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

Additional co-managers include Comerica Securities, William Blair, Stifel, Capital One Securities and PNC Capital Markets LLC.

The company has filed a registration statement with the Securities and Exchange Commission, though it has not yet become effective. Madison Air operates air quality businesses across commercial and residential markets through brands including AprilAire, Big Ass Fans, Broan-NuTone, Nortek Air Solutions and Reznor.

The information is based on a company press release statement.

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