UAE ADIA backed INNIO Group to launch U.S IPO

INNIO Group, a leading global distributed energy solutions provider, co owned by funds managed by Advent International and Abu Dhabi Investment Authority (ADIA) is targeting a valuation of up to $20.25 billion in its US ‌initial public offering, as it looks to tap investor appetite for companies powering the ​AI boom.

The company is seeking up to $2.03 billion by offering 75 million shares priced between $24 and $27 per share. In connection with the offering, the selling shareholder has granted the underwriters a 30-day option to purchase up to an additional 11,250,000 common shares at the IPO price, less underwriting discounts and commissions, Innio said.

The IPO price is currently estimated to be between $24.00 and $27.00 per share.

Goldman Sachs & Co. LLC, J.P. Morgan, and Morgan Stanley are acting as joint lead book-running managers for the proposed offering. BofA Securities, Barclays, and Citigroup are acting as book-running managers for the proposed offering.

INNIO Group is a global distributed energy solutions provider that delivers reliable, flexible, transient, decentralized, modular, and efficient power. With a track record of innovation, INNIO designs, manufactures, and services high performance power systems under its Jenbacher and Waukesha brands. The company delivers power for applications including data centers, microgrids, grid stabilization, industrial energy, and gas compression.