Forgent Power Solutions Prices Initial Public Offering at $27 Per Share, Set to Debut on NYSE as “FPS”
Forgent Power Solutions, Inc., a leading designer and manufacturer of electrical distribution equipment for data centers, the power grid, and energy-intensive industrial facilities, has announced the pricing of its initial public offering (IPO). The company’s Class A common stock has been priced at $27.00 per share, marking a significant milestone as it prepares to begin trading on the New York Stock Exchange under the ticker symbol “FPS.”
The IPO consists of a total of 56 million shares of Class A common stock. Of these, 39,413,573 shares are being offered by the company’s parent entities, which are controlled by private equity firm Neos Partners, LP. The remaining 16,586,427 shares are being offered directly by Forgent. This dual structure allows both the company and existing shareholders to participate in the offering.
In addition to the base offering, both the selling stockholders and the company have granted underwriters a 30-day option to purchase additional shares at the initial public offering price, less underwriting discounts and commissions. The selling stockholders have provided an option for up to 5,912,036 additional shares, while Forgent has granted an option for up to 2,487,964 more shares. If exercised in full, this over-allotment option would further increase the total size of the offering.
Forgent clarified that it will not receive any proceeds from the shares sold by the selling stockholders. The net proceeds generated from the company’s portion of the offering will be used to redeem interests in one of its operating subsidiaries. These interests are currently held by certain existing equity owners also controlled by Neos Partners, LP. Additionally, the operating subsidiary will bear or reimburse the company for all expenses associated with the offering.
The shares are expected to begin trading on February 5, 2026, with the closing of the offering anticipated on February 6, 2026, subject to customary closing conditions.
A syndicate of major financial institutions is leading the offering. Goldman Sachs & Co. LLC, Jefferies, and Morgan Stanley are acting as joint lead book-running managers. J.P. Morgan, BofA Securities, and Barclays are serving as bookrunners, while TD Cowen, MUFG, Wolfe | Nomura Alliance, KeyBanc Capital Markets, Oppenheimer & Co., and Stifel are participating as passive bookrunners.
The securities are being offered solely by means of a prospectus. Once available, copies of the final prospectus can be accessed through the U.S. Securities and Exchange Commission’s EDGAR database. Prospective investors may also obtain copies directly from the joint lead book-running managers.
The registration statement on Form S-1 for the offering was declared effective by the Securities and Exchange Commission on January 28, 2026. As noted in the company’s announcement, this press release does not constitute an offer to sell or a solicitation to buy the securities, nor will any sale occur in jurisdictions where such activity would be unlawful prior to proper registration or qualification under applicable securities laws.
The IPO represents a major step for Forgent as it transitions into the public markets. With its focus on electrical distribution solutions for critical infrastructure sectors such as data centers and industrial facilities, the company is positioning itself to capitalize on growing global demand for reliable and efficient power systems.
About Forgent Power Solutions, Inc.
Forgent is a leading U.S. designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities. The Company specializes in manufacturing custom products that are “engineered-to-order” for technically demanding applications. We believe Forgent is one of a small number of companies that can manufacture all of the electrical distribution equipment required for a data center or large manufacturing facility’s powertrain with some of the highest levels of customization and shortest lead times available in the industry.
