Private equity firm Sentinel Capital Partners recently announced the sale of portfolio company ECM Industries to nVent Electric plc for a purchase price of $1.1 billion. Based in New Berlin, Wisconsin, ECM is known as a global manufacturer and supplier of electrical connectors, tools, and test instruments for construction, maintenance, lighting, irrigation, landscape supply, and gas utility applications.
ECM essentially serves professional electricians, contractors, maintenance technicians, and do-it-yourselfers with a wide range of premium brands, including ILSCO, Gardner Bender, and King Innovation. Currently, ECM has over 1,400 employees and operates in North America and Shanghai.
nVent is known as a leading global provider of electrical connection and protection solutions. With a team of more than 10,000 people at over 130 sites around the world, nVent designs, manufactures, markets, installs, and services high-performance products and solutions that connect and protect mission-critical equipment, buildings, and essential processes. Plus nVent has industry-leading brands that are recognized globally for quality, reliability, and innovation, including nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF, and TRACER. E Its management office is in St. Louis Park, Minnesota.
ECM Industries will join the Electrical Fastening and Solutions segment. And ECM will continue to operate its sales, engineering, operations and all customer support functions from its existing locations.
KEY QUOTES:
“Sentinel has been an excellent partner over the past three and a half years. With Sentinel’s support, we completed the transformational acquisition of ILSCO, expanded ECM’s product offering, and significantly diversified our business. We are well positioned for continued success with our new partner.”
“We are excited to be joining the nVent family of brands. NVent’s focus on the electrification of everything, high growth vertical markets, global expansion, and complimentary products will benefit ECM Industries’ customers, suppliers, and employees.”
— Mike Masino, CEO of ECM
“It has been a privilege to work with Mike and the rest of the ECM management team for the second time after our successful previous investment in Power Products. ECM has performed exceedingly well during our partnership, and we believe it has a bright future ahead. All of us at Sentinel wish our management team partners at ECM continued success.”
— John Van Sickle, a Sentinel Partner
“I am excited to welcome the ECM team to nVent. ECM’s complementary electrical power connection and grounding solutions portfolio further positions nVent with the electrification of everything. The addition of ECM is exciting, and we are confident it will deliver significant value for our customers, employees and shareholders.”
— Beth Wozniak, nVent Chair and CEO
