US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

US IPOs and Secondary Offerings

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

IPOs and Secondary Offerings

Equity Capital Markets

<ul>
<li>Legence Corp set terms for its IPO and will offer 26 million shares at $25-$29 and is scheduled to debut on Friday, September 12th.</li>
<li>The company is private-equity backed by BlackStone and PE-backed deals have struggled, broadly speaking, in 2025. </li>
<li>From 2021 to 2024, their revenues grew at a CAGR of approximately 39% and as of June 30, 2025, they had $2.8 billion of backlog and awarded contracts.</li>
</ul>


Legence Corp set terms for its IPO and will offer 26 million shares at $25-$29 and is scheduled to debut on Friday, September 12th.
The company is private-equity backed by BlackStone and PE-backed deals have struggled, broadly speaking, in 2025. 
From 2021 to 2024, their revenues grew at a CAGR of approximately 39% and as of June 30, 2025, they had $2.8 billion of backlog and awarded contracts.


Legence Corp. (LGN): Blackstone Backed Engineering Firm Sets Terms for IPO Seeking $3.0b Valuation

<ul>
<li>Private equity giant Blackstone is bringing a system services company public in September. </li>
<li>Revenue increased $78.1 million, or 15%, during the three months ended June 30, 2025 compared to the three months ended June 30, 2024.</li>
<li>As of June 30, 2025, they had $2.8 billion of backlog and awarded contracts, representing an increase of 29% over the same date last year.</li>
</ul>


Private equity giant Blackstone is bringing a system services company public in September. 
Revenue increased $78.1 million, or 15%, during the three months ended June 30, 2025 compared to the three months ended June 30, 2024.
As of June 30, 2025, they had $2.8 billion of backlog and awarded contracts, representing an increase of 29% over the same date last year.


Legence Corp. (LGN): Peeking at the IPO Prosepctus of Blackstone Backed Engineering Firm

United States

Legence Corp. operates as a mechanical contractor. The Company provides designing, fabricating, engineering, installation, and maintenance services of heating, ventilation and air conditioning, process piping and other mechanical, electrical, and plumbing systems for new facilities and upgrading HVAC, lighting, and building controls. Legence serves customers in the United States.

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Legence (LGN US)

Legence Corp. (LGN): Blackstone Backed Engineering Firm Sets Terms for IPO Seeking $3.0b Valuation

Legence Corp, backed by BlackStone, sets IPO terms to offer 26 million shares at $25-$29, with strong revenue growth and backlog of $2.8 billion...

IPO Boutique

Legence Corp. (LGN): Peeking at the IPO Prosepctus of Blackstone Backed Engineering Firm

Private equity firm Blackstone to take system services company public in September after significant revenue growth and backlog increase.

IPO Boutique

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52-week Range

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Legence Corp. (LGN): Blackstone Backed Engineering Firm Sets Terms for IPO Seeking $3.0b Valuation

​Legence Corp, backed by BlackStone, sets IPO terms to offer 26 million shares at $25-$29, with strong revenue growth and backlog of $2.8 billion...

IPO Boutique

Legence Corp. (LGN): Peeking at the IPO Prosepctus of Blackstone Backed Engineering Firm

​Private equity firm Blackstone to take system services company public in September after significant revenue growth and backlog increase.

IPO Boutique

Legence Corp, backed by BlackStone, sets IPO terms to offer 26 million shares at $25-$29, with strong revenue growth and backlog of $2.8 billion...

Private equity firm Blackstone to take system services company public in September after significant revenue growth and backlog increase.