By Dean Seal
NVent Electric agreed to acquire Avail Infrastructure Solutions's enclosures, switchgear and bus-systems businesses for $975 million.
The London-based electrical connection and protection company said Monday that Avail's electrical products group is a market leader in infrastructure solutions for power utilities and data centers.
"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," Chief Executive Beth Wozniak said.
The business has about 1,110 employees and nine manufacturing locations in the U.S., with estimated revenue of about $375 million for the 12 months that ended Feb. 28.
The transaction is expected to close in the first half of the year and to be funded with nVent's cash on hand. The company said it expects the deal to boost adjusted earnings within a year after it closes.
The purchase builds on the platform nVent got when it acquired Trachte, a maker of custom-engineered control building solutions designed to protect infrastructure assets, from Palladium Equity Partners for $695 million last June.
Between the two acquisitions, nVent sold its thermal-management business to funds managed by Brookfield Asset Management for $1.7 billion in cash, closing the deal in January.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
March 10, 2025 07:01 ET (11:01 GMT)
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