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 ses ...

Fourth-quarter gross margin was 36.3% , down from 40.6% a year earlier. Ragen attributed the decline mainly to unfavorable sales mix and a $15.6 million net inventory provision related to the settlement of a supplier contract dispute for a discontinued product, along with higher input costs and lower manufacturing absorption that were mostly offset by price realization.CFO York Ragen reported fourth-quarter net sales decreased 12% year over year to $1.1 billion . Residential product sales fell 23% to $572 m ...