Goldman Sachs Alternatives (GSAM) is preparing to sell Divcon Controls, a company it acquired in 2024. Divcon, based in Dallas, specializes in building management and electrical power monitoring systems for data centers and other critical facilities. These systems allow clients to manage, automate, and monitor energy and power functions.

GSAM has reportedly hired JPMorgan Securities to manage the sale process. Divcon is attracting interest from sustainability-focused private equity firms and strategic buyers such as Honeywell and Rockwell Automation. The company's valuation is estimated to be between $1 billion and $1.2 billion, potentially exceeding 15x-17x its EBITDA of $70 million, driven by favorable market conditions for power installation and engineering firms serving the data center sector.

Founded in 2017 by Ben Crowell and John Palacios, Divcon has supported over 90 data center installations, contributing to more than 3GW of critical load. The global data center market is projected to grow significantly, with expected capacity reaching 122GW by 2030.