Indoor air system supplier Madison Air Solutions (MAIR.US) applies to list in the United States, planning to raise $2 billion.

U.S. indoor air system supplier Madison Air Solutions submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) on Monday. According to sources, the company is seeking to raise at least $2 billion through the IPO. The company plans to list on the New York Stock Exchange under the ticker symbol "MAIR". Madison Air Solutions was founded in 2017 and develops and manufactures indoor air quality and air management technology for commercial and residential environments. Its products enable air regulation, cooling, circulation, and purification in high-demand environments such as data centers, semiconductor manufacturing facilities, offices, and homes. The company's brands include Nortek Air Solutions, Nortek Data Center Cooling, AprilAire, and Big Ass Fans. The company stated that a significant portion of its revenue comes from a large installed equipment base - about half of net sales in 2025 come from equipment replacement and upgrade demand, while around 10% comes from aftermarket parts and services - which helps to provide recurring revenue and enhance business stability across different economic cycles. Data shows that the company achieved $3.3 billion in revenue in the past 12 months leading up to December 31, 2025.