nVent Electric has agreed to acquire Maverick Power for $1.75 billion upfront, with the transaction providing for up to another $550 million in cash based on performance metrics in 2027 and 2028, bringing potential total consideration to as much as $2.3 billion.
The acquisition is designed to significantly expand nVent’s exposure to the fast-growing data center infrastructure market by adding Maverick’s engineered power distribution platform to its existing electrical connection, protection and cooling offerings.
Maverick Power is a North American provider of power distribution and infrastructure systems for data centers.
Its portfolio includes low-voltage switchgear and switchboards, medium-voltage switchgear, integrated modular solutions and related services.
The McKinney, Texas-based company employs approximately 900 people across Texas and Arizona and is expected to generate roughly $700 million of revenue in 2026.
Maverick also has a strong order backlog and future demand visibility as data center developers expand electrical infrastructure to support increasingly power-intensive AI and cloud computing workloads.
nVent expects the acquisition to broaden its ability to provide system-level solutions across emerging data center power architectures.
Adding Maverick’s power distribution capabilities will complement nVent’s existing portfolio and give the company greater involvement in the electrical infrastructure required to move power through increasingly large and complex computing facilities.
The transaction also increases nVent’s exposure to one of its highest-growth infrastructure verticals.
Data centers are requiring increasingly sophisticated electrical systems as operators deploy denser computing environments and larger power loads associated with AI infrastructure.
Maverick’s switchgear and modular power products sit within that critical infrastructure layer, helping distribute electricity across data center facilities.
nVent expects the transaction to be accretive to adjusted earnings per share during the first year following completion.
Based on the $1.75 billion initial purchase price, nVent said the effective enterprise value represents approximately 11.5 times Maverick’s anticipated 2026 adjusted EBITDA.
After accounting for the present value of expected tax benefits, the multiple declines to approximately 10.5 times anticipated 2026 adjusted EBITDA.
nVent also said the financial returns associated with the transaction are expected to be significantly stronger if Maverick achieves the performance targets that trigger the additional consideration.
The earnout structure therefore ties as much as $550 million of additional purchase consideration to Maverick’s performance during 2027 and 2028.
The transaction is expected to close during the fourth quarter of 2026, subject to regulatory approvals and other customary closing conditions.
nVent plans to finance the acquisition using a combination of cash on hand and new debt.
Bank of America has provided committed bridge financing for the transaction.
Foley & Lardner is serving as legal counsel to nVent.
The acquisition extends nVent’s strategy of building a broader electrical infrastructure portfolio around high-growth markets.
The company’s existing brands include CADDY, ERICO, HOFFMAN, ILSCO, SCHROFF and TRACHTE, spanning electrical connections, system protection and infrastructure solutions.
By adding Maverick, nVent will gain a dedicated power distribution platform that can be combined with those existing capabilities to address more of the infrastructure stack required by hyperscale and other data center operators.
KEY QUOTES:
“Maverick Power is a great fit for nVent and aligns with our strategy to focus on the high-growth infrastructure vertical. 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.”
Beth Wozniak, Chair And CEO Of nVent
“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.”
Tom Currier, President And CEO Of Maverick Power
