By Arasu Kannagi Basil

March 27 (Reuters) - Yesway revived its U.S. initial public offering on Friday, moving the private equity-backed convenience store owner closer to public markets.

The Fort Worth, Texas-based company had been pursuing an IPO since 2021, but shelved the plans in late 2022 when economic uncertainty crushed the new listing markets.

The filing comes as market volatility amid the ongoing conflict in the Middle East threatens to once again delay the long-awaited U.S. IPO rebound.

Still, some issuers have flipped their prospectuses public in recent days, giving them the optionality to move ahead with the IPO roadshow launch when conditions improve.

"The outbreak of the war, and the uncertainty around its longevity, has diminished appetite for equities at a time when confidence was already suffering following a sell-off in U.S. software and technology names," said Samuel Kerr, global head of equity capital markets at Mergermarket.

"For IPOs, this uncertainty is a nightmare, particularly given its impact on energy prices and consumer affordability in the U.S. and around the world."

Established in 2015 by Boston-based real estate-focused private equity firm Brookwood Financial Partners, Yesway is one of the fastest-growing U.S. convenience store chains.

The company reported a net income of $54 million on revenue of $2.67 billion in 2025, compared with a net income of $23.6 million on revenue of $2.53 billion a year earlier.

Yesway, which operates 449 convenience stores across nine states in the Midwest and Southwest, plans to sell new shares in the offering.

From candy to baked goods and fountain drinks, Yesway is known for its food service offerings and private-label products.

In 2019, Yesway acquired convenience store chain Allsup's, famous for its deep-fried burritos and chimichangas.

Dealmakers were optimistic on the IPO window for consumer-facing companies to crack open in 2026 after a few slow years, but mounting inflation worries threaten to cloud the recovery.

Morgan Stanley, J.P. Morgan, and Goldman Sachs are among the bookrunning managers for the offering. Yesway will list on the Nasdaq under the symbol "YSWY."