FPS

Forgent Power Solutions, Inc.

A maker of electrical distribution equipment — transformers, switchgear, and prefabricated power systems — that keep data centers, the power grid, and industrial plants running. The company came to be in 2023 when private-equity firm Neos Partners merged four established manufacturers (MGM Transformers, PwrQ, States Manufacturing, and VanTran) under the new Forgent name, based in Maple Grove, Minnesota. A fun detail: 'Forgent' is a fresh parent label uniting those older brands under one roof.