Company Announcements

• Leading provider of custom-engineered control building solutions, switchgear and bus systems that help ensure safe and reliable electrical operations
• Further strengthens nVent’s position in high-growth infrastructure verticals, including power utilities and data centers
• Builds on nVent’s control buildings platform
• Expands nVent’s offering and capabilities in new applications

LONDON--(BUSINESS WIRE)--Mar. 10, 2025-- nVent Electric plc (NYSE: NVT) (“nVent”), a global leader in electrical connection and protection solutions, today announced that it has entered into a definitive agreement to acquire the enclosures, switchgear and bus systems businesses of Avail Infrastructure Solutions (the “Electrical Products Group”) for a purchase price of $975 million, subject to customary adjustments. The Electrical Products Group is a leading provider of infrastructure solutions, designed to help ensure safe and reliable electrical operations primarily in the infrastructure vertical, including power utilities and data centers.

“We are excited to acquire the Electrical Products Group of Avail,” said nVent Chair and CEO Beth Wozniak. “The demand for control buildings, switchgear and bus systems is expected to increase with the modernization of aging electrical infrastructure, expanding electrical capacity to meet power demand and the growth of data centers. The Electrical Products Group has long-standing customer relationships with power utilities, data centers, OEMs and EPCs and a significant installed base across the United States. This acquisition builds on the platform we acquired with the Trachte acquisition and expands our offering and capabilities.”

The Electrical Products Group business is a leading North American provider of infrastructure solutions with approximately 1,100 employees and nine manufacturing locations in the United States. Electrical Products Group estimates revenues of approximately $375 million in the 12 months ending February 28, 2025, and has a strong backlog.

nVent expects the acquisition to be accretive to adjusted earnings per share in the first year following completion of the transaction. The effective enterprise value multiple is approximately 12.5 times the anticipated Electrical Products Group trailing twelve-month EBITDA.

The transaction is expected to close in the first half of 2025, subject to customary closing conditions. nVent expects to fund the acquisition with available cash on hand.

Upon closing, nVent plans to operate the Electrical Products Group predominantly within its Systems Protection (formerly Enclosures) business segment.

ABOUT NVENT

nVent is a leading global provider of electrical connection and protection solutions. We believe our inventive electrical solutions enable safer systems and ensure a more secure world. We design, manufacture, market, install and service high-performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings and critical processes. We offer a comprehensive range of systems protection and electrical connection solutions across industry-leading brands that are recognized globally for quality, reliability and innovation. Our principal office is in London and our management office in the United States is in Minneapolis. Our robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, ILSCO, SCHROFF and TRACHTE. Learn more at www.nvent.com.

nVent, CADDY, ERICO, HOFFMAN, ILSCO, SCHROFF and TRACHTE are trademarks owned or licensed by nVent Services GmbH or its affiliates.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains statements that we believe to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward-looking statements. Without limitation, any statements preceded or followed by or that include the words “targets,” “plans,” “believes,” “expects,” “intends,” “will,” “likely,” “may,” “anticipates,” “estimates,” “projects,” “forecasts,” “should,” “would,” “could,” “positioned,” “strategy,” “future,” “are confident,” or words, phrases or terms of similar substance or the negative thereof, are forward-looking statements. All statements made about the anticipated acquisition, including the anticipated time for completing the acquisition, the expected financial results of the acquired business and the anticipated benefits of the acquisition, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Among these factors are our ability to close the acquisition on the expected terms and schedule; our ability to integrate the acquisition successfully; our ability to retain customers and employees of the acquired business; adverse effects on our business operations or financial results, including the overall global economic and business conditions impacting our business; the ability to achieve the benefits of our restructuring plans; the ability to successfully identify, finance, complete and integrate acquisitions, including the Trachte acquisition; competition and pricing pressures in the markets we serve, including the impacts of tariffs; volatility in currency exchange rates, interest rates and commodity prices; inability to generate savings from excellence in operations initiatives consisting of lean enterprise, supply management and cash flow practices; inability to mitigate material and other cost inflation; risks related to the availability of, and cost inflation in, supply chain inputs, including labor, raw materials, commodities, packaging and transportation; increased risks associated with operating foreign businesses, including risks associated with military conflicts; the ability to deliver backlog and win future project work; failure of markets to accept new product introductions and enhancements; the impact of changes in laws and regulations, including those that limit U.S. tax benefits; the outcome of litigation and governmental proceedings; and the ability to achieve our long-term strategic operating goals. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. All forward-looking statements speak only as of the date of this press release. nVent assumes no obligation, and disclaims any obligation, to update the information contained in this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250310532520/en/

Investor Contact
Tony Riter
Vice President, Investor Relations
nVent
763.204.7750
Tony.Riter@nVent.com

Media Contact
Stacey Wempen
Director, External Communications
nVent
763.204.7857
Stacey.Wempen@nVent.com

Source: nVent