nVent to acquire Maverick Power for $1.75 billion
LONDON - nVent Electric plc has signed a deal to buy Maverick Power for $1.75 billion, according to its press release. The deal may include up to $550 million more in cash if Maverick hits certain goals in 2027 and 2028. Maverick makes power distribution systems for data centers, based in McKinney, Texas. It employs 900 people in Texas and Arizona, and is expected to earn $700 million in 2026.
Adding Maverick to nVent's lineup will give nVent a power distribution platform, including switchgear and services. nVent CEO Beth Wozniak said Maverick fits well with their goal to focus on the growing infrastructure sector. Maverick's President and CEO, Tom Currier, called the deal a big step for his company. The acquisition is expected to boost nVent's adjusted earnings per share in the year after the purchase.
The deal's price is about 11.5 times expected 2026 earnings before interest, taxes, depreciation, and amortization, or around 10.5 times after accounting for expected tax benefits. The transaction will close in the fourth quarter of 2026, after meeting usual conditions, including regulatory approval. nVent will use its cash and new debt to pay for the acquisition. Bank of America will provide temporary financing for the deal.
Written by urgent.news from Investing.com's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
