Building systems service provider Legence (LGN.US) plans to IPO for up to $100 million, with over 60% of its customers being constituents of the Nasdaq 100.

Legence (LGN.US) submitted an application to the U.S. Securities and Exchange Commission last Friday, intending to raise up to $1 billion through an initial public offering. Legence provides services for critical systems in high-tech demanding buildings. Legence offers engineering, installation, and maintenance services for critical mission systems in buildings. The company focuses on designing, manufacturing, and installing complex HVAC, process piping, and other mechanical, electrical, and piping systems for new facilities, as well as upgrading HVAC, lighting, and building control systems in existing facilities. Legence focuses on high-growth areas with high technical requirements, such as technology, life sciences, healthcare, and education, with over 60% of its customers being Nasdaq 100 index component companies. Founded in 1963, the company is headquartered in San Jose, California and generated revenues of $2.2 billion in the 12 months ending on June 30, 2025. The company plans to list on Nasdaq under the ticker symbol LGN. Legence secretly submitted its application for listing on February 14, 2025. Goldman Sachs Group, Inc., Jefferies Financial Group Inc., Bank of America Securities, Barclays, Morgan Stanley, RBC Capital Markets, Industrial Bank of France, BMO Capital Markets, Cantor Fitzgerald, Guggenheim Securities, WR Securities, Nomura Securities, Mitsubishi UFJ Securities USA, Rothschild, Banco Santander S.A. Sponsored ADR, Stifel, TD Cowen, BTIG, and Rothschild are joint bookrunners for this transaction. The company has not disclosed pricing terms yet.