nVent Electric Acquires Maverick Power for $1.75 Billion

nVent Electric announced the acquisition of Maverick Power, a data center equipment manufacturer, for $1.75 billion. The deal is designed to expand nVent's presence in the AI infrastructure market by integrating Maverick Power's power distribution capabilities, specifically low- and medium-voltage switchgears and integrated modular solutions.

The financial terms include a potential additional cash payment of up to $550 million if Maverick Power achieves specific performance targets during 2027 and 2028. nVent intends to fund the purchase through a combination of cash on hand and new debt.

CEO Beth Wozniak stated the acquisition would strengthen the company's offerings to data center customers. The transaction remains subject to regulatory approval and customary closing conditions, with completion expected in the fourth quarter of 2026.