The torrid pace of data center construction has fueled the rapid growth of nVent, which announced Monday that it’s acquiring a Texas-based company with products that complement nVent’s data center offerings.

nVent, with management offices in St. Louis Park, is buying Maverick Power for $1.75 billion. New debt and available cash on hand will be used for the transaction. Bank of America is providing nVent with bridge financing.

“Maverick Power is a great fit for nVent and aligns with our strategy to focus on the high-growth infrastructure vertical,” Beth Wozniak, nVent chair and CEO, said in a Monday statement. “Maverick Power brings strong power distribution expertise and broadens our offerings to data center customers. We look forward to welcoming the Maverick Power team to nVent and together inventing the electrified future.”

The news of this acquisition comes less than a month after nVent raised its full-year 2026 sales growth projection to 37%-39%, up from 26%-28%.

When it reported second-quarter financial results on Aug. 1, nVent announced it would add 160,000 square feet of manufacturing space at a second Blaine location to produce liquid cooling products for data centers. The new Blaine facility is expected to employ more than 200 people and begin production in the first half of 2027.

Tom Currier, Maverick Power’s president and CEO, characterized the nVent acquisition as a “significant milestone” for Maverick Power.

“nVent’s strategy, culture, focus on people and customer-first approach are highly complementary to ours,” Currier said in a Monday statement. “Together, we will deliver a broader power and cooling portfolio for data center customers.”

nVent described Maverick Power as a North American provider of “engineered power distribution and infrastructure solutions.” Its products include low-voltage switchgear and switchboards, medium-voltage switchgear, integrated modular solutions, and other services.

Maverick Power is headquartered in McKinney, Texas, which is about 32 miles north of Dallas. It employs about 900 people in Texas and Arizona. Its 2026 revenue is estimated to be about $700 million.

In the second quarter of 2026, nVent sales skyrocketed 53% to $1.5 billion.

In an early 2026 TCB interview, Wozniak said the company’s long-term goal is to reach $10 billion in annual nVent revenue.

Wozniak has grown the company by serving rapidly expanding industries, increasing new product innovation, and acquiring companies that can accelerate nVent product sales.

The Maverick Power transaction is subject to regulatory review. nVent leaders expect the acquisition deal to close in the fourth quarter of 2026.