nVent completes the acquisition of Maverick Power

By introducing a power distribution platform, expand the presence of nVent in the high-growth infrastructure sector, particularly in the data center field, and complement nVent's existing data center product portfolio.

• Expand nVent data center products for new types of power architectures, as well as system-level solutions and service capabilities

London, October 1, 2026 ( GLOBE NEWSWIRE ) – Global leader in electrical connection and protection solutions, nVent Electric plc ( nVent ), announced today that it has completed the acquisition of Maverick Power as previously announced. The acquisition price is $1.75 billion, with further customary adjustments still to be made.

The transaction also includes a potential additional consideration: if specific performance targets are met in 2027 and 2028, nVent will pay an additional maximum of $550 million in cash. Maverick Power is a leading manufacturer of engineered power distribution and infrastructure solutions for data centers.

"We are very pleased to welcome the Maverick Power team to join nVent," said Beth Wozniak, Chairman and CEO of nVent. "The Maverick Power has added a power distribution platform to our product portfolio, which complements our current data center products. In addition, Maverick Power has also expanded our data center products for new types of power architectures, as well as our system-level solutions and service capabilities."

Maverick Power is headquartered in McKinney, Texas, and has approximately 900 employees in Texas and Arizona.

About nVent

nVent is a globally leading provider of electrical connection and protection solutions. The company states that its innovative electrical solutions contribute to the creation of safer systems and help to ensure a safer world. The company designs, manufactures, markets, installs, and maintains high-performance products and solutions for connecting and protecting some of the most critical equipment, buildings, and vital processes around the world.

The company provides comprehensive system protection and electrical connection solutions through multiple industry-leading brands that are recognized globally for their quality, reliability, and innovation. The main office of nVent is located in London, while its management office in the United States is situated in Minneapolis. The company's strong portfolio of electrical product brands has a history of over 100 years and includes nVent, CADDY, ER, token issuance, HOFFMAN, ILSCO, SCHROFF, and TRACHTE. For more information, please visit www.nvent.com.

nVent, CADDY, ER, HOFFMAN, ILSCO, SCHROFF, and TRACHTE are trademarks owned by or licensed for use by nVent Services GmbH or its affiliated companies.

Tips on Forward-Looking Statements

This press release contains statements that the company considers to be “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Except for statements of historical facts, all other statements are forward-looking statements. Any statements that are preceded by, followed by, or contain words, phrases, terms such as “targets (target)”, “plans (plan)”, “believes (believes)”, “expects (expects)”, “intends (intends)”, “will (will)”, “likely (may)”, “may (or will)”, “anticipates (estimates)”, “estimates (projects)”, “projects (predicts)”, “forecasts (outlook)”, “should (should)”, “would (will)”, “could (possibly)”, “positioned (in a favorable position)”, “strategy (strategy)”, “future (future)”, “are confident (confident)” and their negative forms, are considered forward-looking statements.

These forward-looking statements do not guarantee future performance and are subject to risks, uncertainties, assumptions, and other factors, some of which are beyond the company's control and may lead to significant differences between actual results and those explicitly or implicitly indicated in these forward-looking statements.

These factors include, but are not limited to: adverse effects on the company's business operations or financial results, including the global economic and business environment that affect the company's business; the ability to realize the benefits of the restructuring plan; the ability to successfully identify, finance, complete, and integrate acquisitions, including the acquisition of Maverick Power; competitive and pricing pressures in the markets served by the company, including the impact of tariffs; fluctuations in exchange rates, interest rates, and commodity prices; the inability to achieve savings through best practices in operations such as lean enterprise, supply chain management, and cash flow management; the inability to mitigate inflation in raw materials and other costs; risks related to the availability and cost inflation of supply chain inputs, including labor, raw materials, commodities, packaging, and transportation; increased risks associated with operating overseas businesses; risks related to or triggered by military conflicts; the ability to deliver existing orders and win future project work; the market's failure to accept new product launches and product upgrades; the impact of changes in laws and regulations, including regulations that limit tax incentives in the United States; the outcome of litigation and government proceedings; and the ability to achieve the company's long-term strategic business objectives.

For more information regarding the aforementioned factors and others, please refer to the documents submitted by the company to the U.S. Securities and Exchange Commission, including the Form 10-K annual report and the Form 10-Q quarterly report. All forward-looking statements are as of the date of this press release. nVent assumes no obligation, and explicitly states that it assumes no obligation, to update the information contained in this press release.

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