Forgent Power Solutions prices IPO at $27 per share

Forgent Power Solutions Inc., a designer and manufacturer of electrical distribution equipment, priced its initial public offering at $27.00 per share, according to a company statement.

The offering consists of 39,413,573 shares from selling stockholders controlled by Neos Partners, LP and 16,586,427 shares from Forgent. The underwriters received a 30-day option to purchase up to an additional 8,400,000 shares combined from both parties.

Forgent will not receive proceeds from shares sold by the selling stockholders. The company plans to use its net proceeds to redeem interests in an operating subsidiary held by existing equity owners controlled by Neos Partners, LP.

The shares are expected to begin trading on February 5, 2026 on the New York Stock Exchange under ticker symbol "FPS." The offering is expected to close on February 6, 2026, subject to customary conditions.

Goldman Sachs & Co. LLC, Jefferies and Morgan Stanley serve as joint lead book-running managers. J.P. Morgan, BofA Securities and Barclays act as bookrunners, while TD Cowen, MUFG, Wolfe | Nomura Alliance, KeyBanc Capital Markets, Oppenheimer & Co. and Stifel serve as passive bookrunners.

The Securities and Exchange Commission declared the registration statement on Form S-1 effective on January 28, 2026. Forgent, based in Dayton, Minnesota, manufactures electrical distribution equipment for data centers, power grid infrastructure and energy-intensive industrial facilities.

You May Also Be Interested In