Forgent Launches IPO Roadshow as Grid
Forgent Power Solutions has launched the roadshow for its initial public offering, moving toward a public debut as demand for electrical distribution equipment accelerates across data centers, grid modernization, and energy-intensive industrial facilities.
The offering includes 39.4 million shares of Class A common stock being sold by parent entities controlled by Neos Partners, alongside 16.6 million newly issued shares offered by Forgent. In addition, the company and selling stockholders plan to grant underwriters a 30-day option to purchase up to an additional 8.4 million shares in aggregate at the IPO price.
Forgent expects to price the offering between $25 and $29 per share and has applied to list on the New York Stock Exchange under the ticker symbol “FPS.”
The company designs and manufactures electrical distribution equipment used in mission-critical applications, including hyperscale data centers, utility infrastructure, and industrial facilities—sectors seeing sustained capital investment driven by AI adoption, electrification, and grid resilience initiatives.
Goldman Sachs, Jefferies, and Morgan Stanley are serving as joint lead book-running managers for the offering. JPMorgan Chase, BofA Securities, and Barclays are acting as bookrunners, with TD Cowen, MUFG, Wolfe | Nomura Alliance, KeyBanc Capital Markets, and Oppenheimer & Co. participating as passive bookrunners.
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