Overview
- nVent signed a definitive agreement on Monday to acquire Maverick Power for $1.75 billion in cash plus up to $550 million of performance-based payments tied to 2027–2028 results.
- The company secured committed bridge financing from Bank of America and named Foley & Lardner as legal counsel, and it expects the transaction to close in the fourth quarter of 2026 pending regulatory approval.
- nVent said the purchase values Maverick at about 11.5 times projected 2026 adjusted EBITDA and that the acquisition should be accretive to adjusted earnings per share in the first full year after closing.
- Maverick Power is a North American maker of low- and medium-voltage switchgear, modular power solutions and services with about 900 employees in Texas and Arizona and estimated 2026 revenue of roughly $700 million and a strong backlog.
- Key risks to monitor include regulatory clearance, retention of Maverick customers and staff, and meeting the earn-out targets through 2028, and the transaction could strengthen nVent’s role in supplying power equipment to hyperscale and AI-focused data centers.