Blackstone-Backed Esdec Eyes US IPO with $5B Tag
Dutch photo voltaic agency Esdec Photo voltaic Group, supported by Blackstone (NYSE:) is considering a US preliminary public providing (IPO) that might peg its valuation at over $5 billion. This transfer is available in mild of the rising urge for food of buyers for environmentally pleasant belongings. Esdec’s choice aligns with an rising development amongst European corporations which might be looking for to record within the US.
The Netherlands-headquartered firm has roped in JPMorgan Chase & Co. (NYSE:) and Morgan Stanley (NYSE:) as lead banks and is on observe to induct extra banks into its IPO syndicate. Esdec, which originated in 2004 and garners assist from European personal fairness investor Rivean Capital, specializes within the growth and distribution of rooftop photo voltaic racking and mounting methods.
Whereas the specifics relating to the scale and timing of the itemizing stay undecided, this pursuit signifies the revitalization of the US IPO market, which skilled a lull for the previous 18 months. The rejuvenation may be attributed to latest profitable listings like that of the restaurant chain Cava Group (CAVA).
Along with Esdec, different outstanding manufacturers, such because the famend shoe producer Birkenstock, are reportedly gearing up for US IPOs, with the latter doubtlessly debuting as early as September.
This text was initially revealed on Quiver Quantitative
