HMH Holding(HMHW.US), a drilling equipment and services provider, filed for a US IPO, planning to raise $100m.
1min read Drilling Equipment and Services Company HMH Holding(HMHW.US) has filed for a public offering(IPO) with the U.S. Securities and Exchange Commission, seeking to raise up to $100 million.
HMH is a leading equipment supplier to the oil and gas industry, focusing on offshore operations through the sale of projects and products(24% of 2023 revenue) and after-sales services(76%). The company operates globally, with offices in 16 countries and sales in over 60 countries. Its core customer categories include drilling contractors, shippers(both oil and gas companies and mining companies) and manufacturers. HMH emphasizes its light asset business model, which allows for growth and scalability with low incremental investment. The company is also expanding into the subsea oil and gas adjacent.
The Texas-based company was founded in 2021 and had $813 million in revenue over the 12 months ending June 30, 2024. The company plans to list on the Nasdaq, with the stock symbol “HMHW”. The joint lead bookrunners for the transaction are J.P. Morgan, Piper Sandler, Evercore ISI, Citi, Stifel and DNB Markets. The company has not disclosed pricing terms.
