Indoor air systems provider Madison Air Solutions has submitted an application for an initial public offering to the U.S. Securities and Exchange Commission. According to sources familiar with the matter, the company aims to raise a minimum of $2 billion through the IPO. Madison Air Solutions plans to list on the New York Stock Exchange under the ticker symbol "MAIR."

Founded in 2017, the company develops and manufactures indoor air quality and air management technologies for both commercial and residential settings. Its products are designed to regulate, cool, circulate, and purify air in demanding environments such as data centers, semiconductor manufacturing facilities, offices, and homes. The company's portfolio includes brands such as Nortek Air Solutions, Nortek Data Center Cooling, AprilAire, and Big Ass Fans.

A significant portion of the company's revenue is derived from its large installed base of equipment. Approximately half of its net sales for 2025 are expected to come from equipment replacement and upgrade demand, with around 10% originating from aftermarket parts and services. This revenue structure provides sustained income and enhances business stability across different economic cycles. Financial data shows that the company generated $3.3 billion in revenue over the twelve months ended December 31, 2025.