Electrical connection and protection solutions manufacturer and servicer nVent Electric agreed to acquire the enclosures, switchgear and bus systems (Electrical Products Group) of Avail Infrastructure Solutions for $975 million.
The Electrical Products Group is a division of Avail that manufactures products and solutions aimed at ensuring safe and reliable electrical operations, primarily serving customers within the infrastructure sector, such as power utilities and data centers. The unit operates across nine manufacturing sites in the U.S. and employs around 1,100 people.
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“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,” nVent Chair and CEO Beth Wozniak said in a March 10 news release. “The Electrical Products Group has long-standing customer relationships with power utilities, data centers, OEMs and EPCs and a significant installed based across the U.S. This acquisition builds on the platform we acquired with the Trachte acquisition and expands our offering and capabilities.”
The Electrical Products Group projects revenues of around $375 million for the 12-month period ending on Feb. 28. nVent expects the acquisition to positively impact adjusted earnings per share in the first year after the deal is completed. The enterprise value multiple is roughly 12.5 times the projected trailing 12-month EBITDA of the Electrical Products Group.
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nVent announced a handful of executive appointments on March 11, including a new CFO.
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