TDR Capital and I Squared Capital, the current private equity owners of Glasgow-based power generator rental giant Aggreko plc, are ramping up preparations for a New York IPO of Aggreko, according to a Bloomberg News report, citing “people familiar with the matter.”

Aggreko’s private equity owners have asked banks to pitch for an initial public offering of Aggreko, which could be valued at about $15 billion, the people said.

Aggreko was listed in London before being bought by the private equity firms for about £2.3 billion in 2021.

A new listing could take place as soon as the second half of this year, said the people, who asked not to be identified as the information is private.

Since going private, Aggreko has performed well, with revenues rising from about £1.76 billion in 2022 to £2.2 billion in 2023.

Some analysts have forecast that Aggreko is likely to have continued posting double-digit revenue growth of between 13% and 14% between 2025 and 2026.