Home › IPO Pipeline › Madison Air IPO
Listing This Week

Madison Air

Leading HVAC distributor serving commercial and residential markets. Provides heating, cooling, and ventilation equipment to contractors, builders, and end-users across 200+ locations.

$2.23B
Target Raise
82.69M
Shares Offered
$25–27
Price Range
S-1 Status S-1/A Filed Early April 2026 | NYSE | Listing: April 16, 2026

IPO Timeline

Madison Air's path to the public markets

✓ Completed
S-1 Filed
April 2026
✓ Completed
S-1/A (Pricing)
Early April 2026
● Active
Pricing
April 12–15, 2026
Upcoming
NYSE Debut
April 16, 2026

Key IPO Details

NYSE
Exchange
Ticker: MADN
$25–27
Price Range
$2.23B
Target Raise (Max)
82.69M
Shares Offered
$2.2B
Market Cap (mid)
April 16
Listing Date

About Madison Air

Company Overview

Madison Air is a leading HVAC (Heating, Ventilation, and Air Conditioning) distributor serving commercial and residential markets across the United States. Founded in 1978, the company has grown to become one of the largest HVAC distributors in the US with over 200 branch locations.

The company provides heating and cooling equipment, parts, and services to contractors, builders, and end-users in a diverse range of sectors including advanced manufacturing, data centers, education, healthcare, hospitality, industrial, government, and logistics.

HVAC Building Materials Infrastructure Distribution

Company Info

Headquarters Nashville, TN
Founded 1978
CEO Thomas W. Madison
Employees 5,000+
Industry Building Materials

IPO Details

Exchange NYSE
Ticker MADN
Listing Date April 16, 2026

Why Now?

AI Data Center Boom

The rapid expansion of AI data centers is driving unprecedented demand for HVAC systems. Data centers require massive cooling infrastructure to handle the heat from thousands of servers.

  • HyperScaler capex driving construction
  • Cooling infrastructure critical for AI
  • Long-term service contracts
$50B+
Data center HVAC demand by 2028

Infrastructure Investment

Government infrastructure spending and commercial construction recovery are creating additional demand for HVAC distribution.

  • US infrastructure bill spending
  • Commercial construction recovery
  • Resilient through economic cycles
200+
Branch locations nationwide

How to Invest in Madison Air

Before the IPO

Contact your brokerage to request IPO allocation. Major platforms that commonly offer IPO access include:

  • Robinhood — IPO access for qualified users
  • Fidelity — IPO allocations through Fidelity Active Trader
  • Charles Schwab — IPO access for clients
  • E*TRADE — IPO center for eligible accounts

After Trading Begins

Once MADN begins trading on the NYSE, you can purchase shares through any brokerage that supports NYSE listings.

  • Open a brokerage account
  • Search for "MADN" or "Madison Air"
  • Place a market or limit order
April 16
Expected first day of trading

Frequently Asked Questions

When is the Madison Air IPO date?+
Madison Air is scheduled to list on the NYSE on April 16, 2026. The S-1/A was filed in early April 2026, confirming the pricing range and listing details.
What is the Madison Air IPO price range?+
Madison Air is offering 82.69 million shares at a price range of $25-27 per share. At the midpoint of $26, the raise would be approximately $2.15 billion. The market cap at the midpoint would be approximately $2.2 billion.
What does Madison Air do?+
Madison Air is a leading HVAC (Heating, Ventilation, and Air Conditioning) distributor serving commercial and residential markets across the United States. The company provides heating and cooling equipment, parts, and services to contractors, builders, and end-users.
What sectors does Madison Air serve?+
Madison Air serves a diverse range of sectors including: advanced manufacturing, data centers, education, healthcare, hospitality, industrial, government, logistics, and residential construction. This diversification provides stable revenue across economic cycles.
Why is Madison Air IPOing now?+
The IPO timing benefits from several factors: (1) AI data center construction boom driving HVAC demand, (2) commercial construction recovery, (3) increased infrastructure spending, and (4) a favorable market for distribution and building materials IPOs.