Blackstone-Backed HVAC Firm Legence Seeks $754 Million in US IPO

Legence Corp. is seeking to raise as much as $754 million in the Blackstone Inc.-backed engineering company’s US initial public offering.

The company is offering 26 million shares for $25 to $29 each, according to a filing Tuesday with the US Securities and Exchange Commission. At the top of the range, Legence would have a market value of about $2.9 billion based on the outstanding shares listed in the filing.

The San Jose, California-based company provides engineering, installation and maintenance for HVAC, plumbing and other building systems. Legence touts a focus on high-growth sectors that have technically demanding buildings ...