Lates News

Engineering and maintenance service provider Legence raised $728 million in its initial public offering in the United States on Thursday, becoming one of many companies seeking to go public amidst investor enthusiasm. The California-based company, headquartered in San Jose, sold 26 million shares priced at $28 each, within a market range of $25 to $29 per share. This brought Legence's valuation to $2.85 billion. Blackstone acquired Legence, then known as Therma Holdings, from private equity firm Gemspring Capital in 2020. Under Blackstone's ownership, Legence has acquired some smaller competitors including A.O. Reed, OCI Associates, and P2S.