Forgent Power Solutions Launches IPO Roadshow, Aims for $8.8 Billion Valuation

Forgent Power Solutions Launches IPO Roadshow, Aims for $8.8 Billion Valuation January 28, 2026 Forgent Power Solutions, a key US-based designer and manufacturer of electrical distribution infrastructure for the booming data center market, has launched its initial public offering (IPO) roadshow, targeting a valuation of up to $8.8 billion. The move highlights the intense investor appetite for companies positioned to capitalize on the massive power demands of modern data centers and artificial intelligence workloads. The Minnesota-based company, founded in 2023 by mid-market investment firm Neos Partners, plans to sell 56 million shares at a price range of $25 to $29 per share. This offering is expected to raise approximately $1.62 billion. The IPO consists of 39,413,177 shares offered by Neos Partners-controlled entities and 16,586,823 shares offered by Forgent itself. Underwriters, led by Goldman Sachs, Jefferies, and Morgan Stanley, have been granted a 30-day option to purchase up to an additional 8.4 million shares. Following the listing, shares of Forgent are expected to begin trading on the New York Stock Exchange under the ticker symbol "FPS." Despite the public offering, Neos Partners will retain majority voting control of the company. Forgent is recognized as one of the largest manufacturers of critical electrical equipment for data centers, with a product portfolio encompassing transformers, switchboards, and power distribution units. The successful launch of this IPO is seen as a significant bellwether for the digital infrastructure sector. It demonstrates robust capital market confidence in the long-term growth trajectory of data center capacity expansion, driven by cloud computing and AI. A successful debut for Forgent could pave the way for further public listings from specialized suppliers in the ecosystem, providing them with capital to scale operations and meet escalating global demand. Source: datacenterdynamics