nVent completes $1.75 billion Maverick Power acquisition
Illustrative image: Unsplash contributor on Pexels
nVent has completed its acquisition of Maverick Power for $1.75 billion, subject to customary adjustments, expanding its business in power distribution equipment for data centres.
The transaction also includes potential additional cash payments of up to $550 million, dependent on performance targets in 2027 and 2028.
Maverick manufactures engineered power distribution and infrastructure systems. It is based in McKinney, Texas, and employs approximately 900 people across Texas and Arizona.
The 1 October completion announcement places Maverick’s power distribution systems alongside nVent’s existing data-centre equipment. The deal is complete, while the additional payments remain tied to future performance.
Chair and chief executive Beth Wozniak said Maverick would also extend nVent’s offering in new power architectures and system-level products and services.
The $1.75 billion consideration and the performance-linked payments are separate elements of the transaction; the full additional $550 million is not guaranteed.
