Home / Business and Economy / Innio IPO: Data Center Boom Fuels $15B Valuation
Innio IPO: Data Center Boom Fuels $15B Valuation
9 Jan
Summary
- Innio is planning a US IPO led by major banks like Goldman Sachs.
- The company expects a valuation of approximately $15 billion.
- Demand from data centers for power and cooling solutions drives growth.
Buyout firm Advent is gearing up to take power equipment maker Innio public in a US initial public offering, with major banks tapped to lead the process. The company is reportedly aiming for a valuation of approximately $15 billion, a significant increase since its acquisition by Advent in 2018 for $3.25 billion.
Innio, formerly part of General Electric's distributed power business, manufactures gas engines and power generation machinery under brands like Jenbacher and Waukesha. The firm has experienced a surge in demand, particularly from the data center industry, which utilizes its engines for essential power and cooling needs.
This increased demand has led to Innio securing its largest order for power delivery to a US data center project in October. While deliberations are ongoing, Advent could potentially opt for selling the business if a suitable buyer emerges.
