The increase in the number of readout channels in new detectors, like the Micro Pattern Gas Detectors (MPGD), in the order of several millions, requires a large amount of electrical power to supply the front-end electronics, up to hundreds kW. If this power is generated at long distances from the detector, the voltage drop on the connection cables puts serious constraints to the supply current, to the wire cross-section and to the power distribution. A large amount of voltage drop on the cables, apart an increased power dissipation on wire resistance, determines regulation issues on the load in case of current transients. To mitigate these problems, a new generation DC/DC converter, working in a heavily hostile environment and with a power density greater than 200 W/dm3, was developed. It is modular, with up to four independent modules, eight channels each, collected in a water-cooled crate, and can supply the load with an adjustable 10 to 12 V output up to 170 W per channel. In this contribution, the design constraints of such a converter are analysed, taking as a basis the environmental, electrical and mechanical requirements of the ATLAS New Small Wheel (NSW) project. Thermal considerations require the converter to be water-cooled, and the dimensional constraints impose the adoption of an innovative design to convey the dissipated heat towards the heat exchanger. The control and monitoring system allows for the full remote management of the converter. Main electrical parameters were measured and are reported. The converter was also characterized in a harsh working environment, with radiation tests in the CERN CHARM facility beyond the limits estimated for ten years operation in ATLAS, and with magnetic field tests in various orientations, using different magnets at CERN up to 1.3 T. A better common mode noise filtering design improvement was implemented after the first characterization. Final performance measurements after the modifications are also reported.