May 1, 2019

Parsons and Mayville Engineering IPOs Set

Executive Director

Parsons Corporation, a 100% ESOP-owned engineering company with 16,000 employees, has set the terms for its IPO. The ESOP will continue to own 80.8% of the shares. The offering is expected to raise over $500 million. Meanwhile, Mayville Engineering, a 100% ESOP-owned metal fabrication company with 3,100 employees, has started its own IPO process, expecting to raise $125 million. The two IPOs are the first by majority ESOP-owned companies since the 1990s.