nVent Electric plc (NVT) announced Monday a definitive agreement to acquire Maverick Power for $1.75 billion. The deal is expected to strengthen nVent's position in the high-growth data center infrastructure market.
The purchase price includes potential additional cash consideration of up to $550 million based on achieving certain performance metrics in 2027 and 2028.
Maverick Power manufactures engineered power distribution and infrastructure solutions for data centers. The company has approximately 900 employees in Texas and Arizona, with estimated 2026 revenues of approximately $700 million.
nVent expects the acquisition to be accretive to adjusted earnings per share in the first year following completion of the deal.
The company plans to fund the acquisition using available cash on hand and new debt, with Bank of America providing committed bridge financing for the transaction.
The transaction is anticipated to close in the fourth quarter of 2026.
In pre-market hours, NVT was trading at $150.99, down 0.60 percent on the New York Stock Exchange.
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