Construction tech firm EquipmentShare.com raises about $747 million in US IPO

Jan 22 (Reuters) – Construction tech firm EquipmentShare.com priced its U.S. initial public offering within its indicated range on Thursday, raising $747.3 million and underscoring strong demand for startups looking to tap public markets.

The company sold 30.5 million shares at $24.50 apiece, compared with its marketed range of $23.50 to $25.50 per share.

Strong momentum in the U.S. IPO market has carried over to the first few weeks of 2026, as several companies look to tap into strong investor appetite for new listings.

Crypto custody firm BitGo’s shares opened 24.6% above their IPO price on Thursday, marking the first significant market debut of a digital asset company in 2026.

Founded in 2015 in Columbia, Missouri, EquipmentShare.com provides construction equipment rentals, resale services and maintenance and jobsite technology through its platform, T3.

It operates in 373 locations across 45 U.S. states and employs more than 7,500 people, according to regulatory filings, and aims to expand to about 700 rental sites within the next five years.

The company has recorded compound annual revenue growth of about 140% since its launch and expects net income between $5 million and $15 million in 2025, compared with $2.4 million a year earlier.

Its backers include venture capital firm Romulus Capital, software-focused investor Insight Venture Partners and buyout firm BDT & MSD Partners.

Goldman Sachs, UBS Investment Bank and Wells Fargo are lead book-running managers for the offering. EquipmentShare.com is scheduled to list on the Nasdaq on Friday under the symbol “EQPT.”

(Reporting by Pritam Biswas and Disha Mishra in Bengaluru; Editing by Sahal Muhammed and Mrigank Dhaniwala)