The data center and power sectors are booming because of the global AI race but, quietly, so too is the electrical distribution equipment industry that connects the electricity to the Big Tech campuses.
That’s why Forgent Power Solutions—a combination of four legacy companies put together by private equity—was branded less than a year ago and quickly went public with a successful initial public offering in February, growing to a market cap of nearly $8 billion.
“I made a joke in one of the investor sessions that we’re bringing sexy back in the electrical distribution space,” Forgent CEO Gary Niederpruem told Fortune.
Forgent serves three end markets—data centers, power grids, and industrial—and all are expanding, he said.
The data center segment is growing the fastest right now, and Niederpruem expects that to continue, noting the data center sector was largely cloud-based for the past 20 years, which remains a growth area.
