Data center electrical equipment provider Forgent has submitted an initial public offering filing with the U.S. Securities and Exchange Commission, signaling its intent to raise capital as demand for high-efficiency power solutions grows. The company aims to list on a major U.S. exchange, targeting a valuation exceeding $1.2 billion.
- Forgent filed for a U.S. IPO with the SEC, targeting up to $300 million in capital raise.
- Revenue reached $218 million in 2024, up 27% year-over-year.
- Net losses improved to $42 million from $67 million in 2023.
- IPO expected in Q2 2026, with a potential ticker symbol FGN.
- Company specializes in electrical infrastructure for data centers and cloud providers.
- Growth driven by rising demand for power-efficient solutions in AI and cloud infrastructure.
Forgent, a specialized manufacturer of electrical infrastructure for data centers, has formally initiated its IPO process by filing a Form S-1 with the U.S. Securities and Exchange Commission. The filing marks a pivotal step toward public market access, with the company disclosing plans to raise up to $300 million through the offering. This move comes amid a structural shift in the tech sector, where hyperscalers and cloud providers are expanding their data center footprints at a rapid pace. The filing reveals that Forgent reported $218 million in revenue for the fiscal year ending December 31, 2024, representing a 27% year-over-year increase. Net losses narrowed to $42 million from $67 million in the prior year, reflecting improved operational efficiency and growing margins. The company serves major clients in North America and Europe, including Tier-1 cloud providers and enterprise data center operators. Market analysts note that the timing aligns with heightened investor interest in infrastructure plays supporting AI and cloud computing. With global data center power consumption projected to grow by 22% annually through 2030, companies supplying critical electrical systems—such as transformers, switchgear, and power distribution units—are well-positioned for long-term expansion. Forgent’s focus on energy-efficient, modular power solutions positions it as a key player in this ecosystem. The IPO is expected to be priced in early Q2 2026, with underwriting commitments being finalized. If successful, the offering could attract institutional investors seeking exposure to the infrastructure segment of the digital economy. The stock will likely trade under the ticker symbol FGN, pending regulatory approval.