Core Insights - The electrical distribution equipment industry is experiencing significant growth due to the global AI race, alongside the booming data center and power sectors [1] - Forgent Power Solutions, formed from the merger of four legacy companies, went public in February with a market cap nearing $8 billion [1] Company Overview - Forgent serves three primary markets: data centers, power grids, and industrial sectors, with the data center segment currently expanding the fastest [2] - The company has seen a 45% increase in its order backlog, attributed to the recent AI boom, which has acted as an accelerant for growth [3] Competitive Landscape - Forgent competes with larger players in the industry, including Vertiv, Eaton Corp., Schneider Electric, and GE Vernova, which have market caps ranging from $88 billion to $217 billion [4] - To differentiate itself, Forgent focuses on bespoke offerings across its four product families: transformers, switchgear equipment, transfer switches, and prefabricated solutions [5] Growth Strategy - The company was established through rapid consolidation, with Neos Partners acquiring four companies within two years, aligning with the electrification needs of the AI infrastructure boom [6] - Forgent has invested $205 million to expand its manufacturing capabilities, increasing its total manufacturing space to 2.3 million square feet [7]