nVent to Pay $975M for Georgia-based Electrical Business
nVent is set to pay nearly $1 billion for a chunk of a Georgia-based business.
On Monday, nVent announced that it has lined up a deal to buy the enclosures, switchgear systems, and bus systems businesses of Avail Infrastructure Solutions for $975 million. The three business units will be housed under nVent’s systems protection group, formerly known as the enclosures segment.
nVent, which is based in London but has a management office in St. Louis Park, will gain about 1,100 employees through the deal, alongside nine manufacturing locations in the U.S.
Beth Wozniak, nVent’s chair and CEO, indicated that the acquisition will help the company meet the growing needs of data centers, which continue to pop up across the country.
“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,” Wozniak said in a news release. “[Avail’s] Electrical Products Group has long-standing customer relationships with power utilities, data centers, OEMs and EPCs, and a significant installed base across the United States.”
She went on to say that the latest deal builds on nVent’s $695 million purchase of Wisconsin-based Trachte, a maker of prefabricated steel buildings for equipment protection.
In TCB’s late 2023 profile of Wozniak, she noted that revenue from data centers has skyrocketed over the years. The company’s focus on data center needs is part of a bigger strategy to chase “high-growth verticals.”
The Avail deal is slated to close in the first half of this year.
nVent has been making several acquisitions within recent years; the company has completed at least seven since it was spun off from Pentair back in 2018. The company announced its first divestiture in August, when it rolled out plans to sell its thermal management business for $1.7 billion.
