nVent agrees to buy Maverick Power for $1.75 billion
nVent Electric (NVT) agreed to acquire Texas power-distribution firm Maverick Power for $1.75 billion, with up to $550 million contingent cash and a maximum deal value of $2.3 billion.
NVT agreed to acquire Texas-based power-distribution company Maverick Power for $1.75 billion to increase its exposure to accelerating AI data-center construction.
The Details: • Contingent consideration: The agreement includes up to $550 million of additional cash consideration if Maverick meets specified performance targets, taking the maximum potential deal value to $2.3 billion. • Largest deal: The acquisition is nVent Electric's ($NVT) largest since its 2018 separation from Pentair ($PNR). • Revenue scale: Maverick Power is expected to generate approximately $700 million in revenue this year. • Strategic logic: The deal expands nVent Electric's ($NVT) participation in power-distribution infrastructure serving energy-intensive data-center development.