Madison Air Solutions Corp. (MAIR Proposed) disclosed the terms for its IPO early today – 82.69 million Class A common shares at a price range of $25.00 to $27.00 to raise $2.15 billion ($2,149.99 million – if priced at the $26.00 mid-point of its range – according to its S-1/A filing dated April 6, 2026. Under those terms, Madison Air Solutions would have a market cap of $12.71 billion – if priced at the $26.00 mid-point of its range.
Madison Air Solutions, based in Chicago, is set to price its IPO next week. This is a New York Stock Exchange listing. (Please see our IPO Calendar for the pricing date.)
Goldman Sachs, Barclays, Jefferies and Wells Fargo Securities are the joint lead book-runners.
Madison Air Solutions Corp.’s (MAIR Proposed) commercial business serves the health-care sector, data centers, manufacturing facilities and the logistics sector, according to the prospectus.
Madison Air is also known for its residential business – AprilAire’s Healthy Air System – as well as for its Big Ass fans.
“We take up to 25,000 breaths a day and spend up to 90% (90 percent) of our lives indoors, often breathing air that’s two to five times more polluted than outdoor air,” the prospectus said.
“Clean air is absolutely essential to human life, yet most people rarely think about the air we breathe at home, in our schools, in healthcare facilities and in the workplace. Poor air quality doesn’t just affect comfort; it undermines health, productivity and performance. Improving air quality is a fundamental principle that is a key tenet in everything we do.”
The company employs more than 8,650 people, the prospectus said.
Madison Air Solutions’ business is profitable: Net income of $124.3 million on revenue of $3.34 billion for the year that ended Dec. 31, 2025, according to financial statements in the prospectus.
(For more information about this company, please check the IPO Calendarand the individual IPO Profile found on the IPOScoop.com website.)
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