Core Viewpoint - SOLV Energy announced its IPO terms, aiming to raise $482 million by offering 20.5 million shares at a price range of $22 to $25, resulting in a market capitalization of $4.7 billion and an enterprise value of $4.6 billion [1] Group 1: Company Overview - SOLV Energy, formerly known as Swinerton Renewable Energy, was acquired by American Securities in 2021 and specializes in infrastructure services for solar and battery storage projects [2] - The company focuses on utility-scale solar and battery storage projects with capacities of 200 MWdc and above, having constructed over 500 power plants with a total installed capacity of 20 GWdc since its establishment in 2008 [2] - SOLV Energy is recognized as the second-largest solar contractor in the U.S. and the seventh overall contractor in the power industry based on projected revenue for 2024 [2] Group 2: Financial Performance - For the nine months ending September 30, 2025, SOLV Energy reported a 21% revenue growth to $1.7 billion, with a gross margin increase of 625 basis points to 19% [2] - Adjusted EBITDA grew by 115% to $241.3 million, with an adjusted EBITDA margin increase of 625 basis points to 14% [2] - The company recorded $2.1 billion in sales for the 12 months ending September 30, 2025 [3] Group 3: IPO Details - SOLV Energy plans to list on NASDAQ under the ticker symbol MWH, with Jefferies, J.P. Morgan, and several other banks serving as joint bookrunners for the IPO [3] - Post-IPO, American Securities will retain a 75% ownership stake in the company [2]