nVent Electric plc (NVT) has entered into a definitive agreement to acquire Maverick Power, LLC, a manufacturer of engineered power distribution solutions for data centers, for $1.75 billion. The deal also includes potential additional cash consideration of up to $550 million based on performance metrics.
Key Details
- Purchase Price: $1.75 billion, plus up to $550 million in performance-based earnouts for 2027 and 2028.
- Target Company: Maverick Power is a provider of power infrastructure solutions for data centers, with approximately $527 million in revenue for the twelve months ended June 30, 2026.
- Timeline: The agreement was signed on August 21, 2026, and the acquisition is expected to close in the fourth quarter of 2026, subject to regulatory approvals.
- Financing: The acquisition will be financed through a combination of a new securities offering, a new $600 million term loan, borrowings from a revolving facility, and cash on hand.