IdleAire: Hitching a ride to an IPO

There are about 1.3 million heavy-duty diesel trucks – with sleeper cabs – in the US. Interestingly enough, there are federal rules that require these trucks to be idled, so as to maintain appropriate temperature, improve electric power and so on.

The problem? The idling consumes fuel, increases wear and tear, and results in excess noise and vibration.

Well, IdleAire has a solution. And, yes, the company has also filed for an IPO.

Basically, IdleAire has a patented set of technologies that allow for heating, ventilation, and air conditioning. There are even other goodies, such as Internet access, satellite tv, phone and computer-based training.

About 900 truck fleets use the technology as well as 43,000 independent owner-operators. In other words, there is lots of room for growth.

Last year, IdleAire generated about $12 million in revenues. Although, there was a net loss of $60.2 million. But that's to be expected as the company continues to build its extensive network.

The lead underwriters on the IPO include JPMorgan (NYSE: JPM) and Jefferies & Company.

The prospectus is located on the SEC website. Also, if you want to check out more IPOs, click here.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements.