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The Netherlands-headquartered company has roped in JPMorgan Chase & Co. (NYSE:JPM) and Morgan Stanley (NYSE:MS) as lead banks and is on track to induct more banks into its IPO syndicate. Esdec, which originated in 2004 and garners support from European private equity investor Rivean Capital, specializes in the development and distribution of rooftop solar racking and mounting systems.
While the specifics regarding the size and timing of the listing remain undecided, this pursuit signifies the revitalization of the US IPO market, which experienced a lull for the past 18 months. The rejuvenation can be attributed to recent successful listings like that of the restaurant chain Cava Group (CAVA).
In addition to Esdec, other prominent brands, such as the renowned shoe manufacturer Birkenstock, are reportedly gearing up for US IPOs, with the latter potentially debuting as early as September.
This article was originally published on Quiver Quantitative
