Private equity firm Palladium Equity Partners, LLC announced Wednesday that it has signed a definitive agreement under which it will sell its majority interest in Trachte to an affiliate of nVent Electric plc (NVT) for $695 million.
Trachte is a leading provider of highly engineered protection and control buildings with mission critical applications. Its products and services are a critical part of protecting essential controls, equipment, and infrastructure for electric utilities, data centers, and other commercial and industrial customers.
Palladium, which focuses on transforming family and founder-owned businesses, acquired its majority stake in Trachte in 2020.
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