nVent to acquire Avail’s Electrical Products Group in $975 M deal
nVent announces a $975 M deal to acquire Avail’s Electrical Products Group, expanding its enclosures, switchgear, and bus systems portfolio.
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UK, London: On March 10, nVent Electric plc, a global leader in electrical connection and protection solutions, announced a definitive agreement to acquire Avail Infrastructure Solutions’ enclosures, switchgear, and bus systems businesses, collectively known as the “Electrical Products Group”. The transaction is valued at $975 M, subject to customary adjustments.
The Electrical Products Group is a top provider of infrastructure solutions, focused on enabling safe and reliable electrical operations, mainly for 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 is a North American infrastructure solutions provider with around 1,100 employees and nine U.S. manufacturing sites. It projects approximately $375 M in revenue for the 12 months ending February 28, 2025, with a strong backlog.
nVent anticipates the acquisition will boost adjusted earnings per share within the first year post-closing. 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.
Source: Business Wire
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