Advent Selects Banks for Innio's Planned US IPO Valued at $15 Billion
Advent International has appointed Goldman Sachs, JPMorgan Chase, and Morgan Stanley as global coordinators for Innio's planned US IPO, targeting a valuation of approximately $15 billion. The Austrian power equipment manufacturer, which produces gas engines under the Jenbacher and Waukesha brands, aims to capitalize on increasing demand, projecting revenues exceeding $2.5 billion by 2025. The IPO details are still under discussion, with the possibility of a business sale also being considered.
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Advent International has selected Goldman Sachs, JPMorgan Chase, and Morgan Stanley as global coordinators for Innio's anticipated US initial public offering. The Austrian power equipment manufacturer aims to sell shares within the year, seeking a valuation of approximately $15 billion, supported by revenue exceeding $2.5 billion in 2025 and adjusted EBITDA over $550 million.
Innio, which produces gas engines under the Jenbacher and Waukesha brands, was acquired by Advent for $3.25 billion in 2018. The company, headquartered in Jenbacher, Austria, has seen increased demand from data centers, culminating in its largest order for power delivery in October 2025. Discussions are ongoing, and IPO details may evolve, with a potential sale of the business also possible.
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