finance.yahoo.com

nVent Plans to Acquire Maverick Power for Up to $2.3B

nVent Electric logonVent Electric
Sig3.72Sen+4.25Env0.00Soc0.00Gov0.00

nVent Electric agreed to acquire Maverick Power for $1.75 billion, subject to customary adjustments, with up to an additional $550 million in cash tied to performance in 2027 and 2028. Maverick is expected to generate about $700 million of revenue in 2026, and nVent expects the deal to lift adjusted EPS in the first year post-close. The company sees strategic fit for data-center power and cooling, and its shares rose after the announcement.

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