Jan 13 (Reuters) - Construction tech firm EquipmentShare.com said on Tuesday it was targeting a valuation of up to $6.41 billion in its U.S. initial public offering, potentially setting the tone for a strong year of listings.
The company is seeking up to $777.75 million by offering 30.5 million shares priced between $23.50 and $25.50 apiece.
Activity in the U.S. IPO market regained momentum late in 2025, buoyed by strong equity markets and interest rate cuts by the Federal Reserve, with analysts forecasting a robust year ahead for companies preparing to go public.
Founded in 2015 in Columbia, Missouri, the company offers construction equipment rental, resales, servicing and jobsite technology through its platform called T3.
"The technology layer (T3 and broader digitization) adds a narrative premium versus pure rental comparables, but should be viewed as a sweetener rather than a core driver," said Kat Liu, a vice president at IPOX.
It is present across 373 locations across 45 states in the U.S. and has over 7,500 employees, according to its filing. It plans to expand to 700 rental sites within the next five years.
The company has shown a 140% compound annual revenue growth since its founding, and expects annual net income of $5 million to $15 million in 2025, up from $2.4 million a year earlier.
"EquipmentShare's growth trajectory is hard to ignore, with valuation rising from around $1.5 billion in 2019 to over $6 billion today. We expect healthy demand, with pricing driven by the credibility of that narrative," Liu said.
Its major backers include venture capital firm Romulus Capital, software investor Insight Venture Partners and buyout firm BDT & MSD Partners.
Goldman Sachs, UBS Investment and Wells Fargo are among the lead book-running managers for the offering. EquipmentShare.com will list on the Nasdaq under the symbol "EQPT".
Reporting by Pritam Biswas and Arasu Kannagi Basil in Bengaluru; Editing by Vijay Kishore
Source: Reuters