ProEnergy, a Missouri-based operator of gas turbines, is preparing for a potential US initial public offering. The company is targeting a valuation between $40 billion and $50 billion. Morgan Stanley and JPMorgan Chase are leading the IPO process.
The firm, which specializes in aeroderivative gas turbines, currently manages a fleet of 2.4 GW of peaking power plants in Texas. Its business also includes global repair and maintenance services for turbine models such as the GE LM6000 and LM2500.
In September 2024, the private equity firm Energy Capital Partners acquired a majority stake in ProEnergy from Eos Partners and ACON Investments. Energy Capital Partners is part of the Bridgepoint Group and focuses on energy transition infrastructure.
The IPO plans are currently preliminary, and neither ProEnergy nor its majority shareholder has confirmed a timeline. A full sale of the company remains a potential alternative to the public offering.
