Power Distribution Equipment Maker Forgent Power Solutions (FPS.US) Files for US IPO, Potentially Raising $300 Million

Stock News01-12

Forgent Power Solutions, a manufacturer of power distribution equipment for data centers and industrial facilities, submitted an application for an initial public offering (IPO) to the U.S. Securities and Exchange Commission (SEC) last Friday, with a potential fundraising amount of up to $300 million. Pricing terms have not yet been disclosed.

The company plans to list on the New York Stock Exchange under the ticker symbol "FPS." Forgent Power Solutions is a company that designs and manufactures power distribution equipment for data centers, power grids, and energy-intensive industrial facilities; it was founded in 2023 and is headquartered in Dayton, Minnesota.

The company offers a broad range of products, including automatic transfer switches, transformers, switchgear, and power distribution units. For the fiscal year ending December 31, 2025, its customers are primarily located in North America, with its business composition as follows: 42% from data centers, 23% from grid applications, 19% from the industrial sector, and 16% from other markets.

The company annually manufactures products based on over 1,500 unique designs, producing an average of 15 batches per design. It operates a total of 10 manufacturing campuses located in Minnesota, Texas, Maryland, California, and Mexico, encompassing a total area of 2.3 million square feet.

Data shows that the company generated revenue of $882 million for the twelve-month period ended September 30, 2025.

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