nVent Electric announces that it has entered into a definitive agreement to acquire Maverick Power for a purchase price of $1.75 billion, subject to customary adjustments.
The transaction also includes the potential additional consideration of up to $550 million in cash based on achieving certain performance metrics in 2027 and 2028. Maverick Power is a leading manufacturer of engineered power distribution and infrastructure solutions for data centers.
Key points in the nVent acquisition:
- Data center expansion: nVent Electric plc signed a definitive agreement to acquire Maverick Power for $1.75 billion, strengthening its power distribution portfolio for high-growth data center infrastructure.
- Earnout structure: The transaction includes potential additional cash consideration of up to $550 million based on Maverick Power achieving specific performance metrics in 2027 and 2028.
- Transaction terms and timeline: Expected to close in the fourth quarter of 2026, the deal will be funded through cash on hand and new debt, with Bank of America providing committed bridge financing.
The acquisition of Maverick Power strengthens nVent’s position in the high-growth infrastructure vertical, particularly data centers. It will add a power distribution platform to nVent’s portfolio, complementing nVent’s data center offerings. Additionally, it will expand nVent’s offerings for new power architectures and system-level solutions and services for data centers.
“Maverick Power is a great fit for nVent and aligns with our strategy to focus on the high-growth infrastructure vertical,” said nVent Chair and CEO Beth Wozniak. “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.”
Maverick Power President and CEO, Tom Currier added, “This is a significant milestone for our company, and we are thrilled to be joining nVent. nVent's strategy, culture, focus on people and customer-first approach are highly complementary to ours. Together, we will deliver a broader power and cooling portfolio for data center customers.”
Maverick Power is a leading North American provider of engineered power distribution and infrastructure solutions, including low-voltage switchgear and switchboards, medium-voltage switchgear, integrated modular solutions, and services.
Headquartered in McKinney, Texas, Maverick Power has approximately 900 employees in Texas and Arizona, with estimated 2026 revenues to be approximately $700 million. The business has a strong backlog and future demand visibility.
Next steps for nVent with the acquisition
nVent expects the acquisition to be accretive to adjusted earnings per share in the first year following completion of the transaction.
The effective enterprise value multiple based on the $1.75 billion purchase price is approximately 11.5 times anticipated 2026 adjusted EBITDA. When adjusted for the present value of expected tax benefits the 2026 adjusted EBITDA multiple is approximately 10.5 times. nVent’s financial returns on the acquisition are expected to be significantly better if the potential additional considerations are paid.
The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions, including regulatory approval. nVent expects to fund the acquisition with a combination of available cash on hand and new debt.
