nVent Electric plc announced a definitive agreement to acquire Maverick Power, LLC. The transaction involves Hoffman Schroff acquiring Maverick Power for an aggregate purchase price of $1.75 billion, subject to customary adjustments. Additionally, the agreement includes potential additional consideration of up to $550 million in cash, contingent upon the achievement of specific performance metrics in 2027 and 2028.
Maverick Power is a manufacturer of engineered power distribution and infrastructure solutions for data centers. The company is headquartered in McKinney, Texas, and employs approximately 900 people. For the twelve months ended June 30, 2026, Maverick Power reported revenues of approximately $527 million.
nVent stated that it expects the acquisition to close in the fourth quarter of 2026. The consummation of the deal is subject to the satisfaction of customary closing conditions, including regulatory approvals. The Purchase Agreement includes termination rights for each party, allowing termination on or after November 20, 2026, if the acquisition has not closed by that date, subject to a possible extension to February 19, 2027.
To finance the acquisition, nVent plans to utilize the net proceeds from an offering, a new term loan facility, and a specified revolving facility. Concurrently, Hoffman Schroff, nVent, and nVent Finance entered into a bridge facility commitment letter with a group of financial institutions for a senior unsecured bridge facility of up to $1.5 billion. The availability of the bridge facility is tied to the closing of the acquisition and will be reduced dollar-for-dollar by the net proceeds from the offering and the new financing facilities.
In connection with the acquisition, nVent intends to enter into a new term loan credit agreement for a delayed draw term loan facility in the aggregate principal amount of $600 million, with a three-year maturity. Additionally, an amendment to the existing revolving credit facility will permit conditionality draws of up to $250 million. These facilities will be guaranteed by nVent and nVent Finance.
The company noted that the acquisition will increase its indebtedness materially. As of June 30, 2026, nVent had $1.5 billion of total debt on a consolidated basis. The filing highlights risks associated with the integration of Maverick Power’s operations, including the potential for delays, unexpected difficulties, and the incurrence of liabilities that may be more costly than anticipated.
