nVent Electric said it has agreed to buy Maverick Power for $1.75 billion, with as much as another $550 million in cash tied to performance targets in 2027 and 2028.
Maverick Power generated about $527 million in revenue in the 12 months ended June 30, 2026 and has about 900 employees.
To help fund the deal, nVent outlined roughly $1.65 billion of new indebtedness: a planned $600 million delayed-draw term loan and up to $250 million from a revolving credit facility, alongside the proceeds from the current offering and cash on hand. The company also has a bridge facility of up to $1.5 billion, though it said it does not expect to use it if the other financing is completed.
As of June 30, 2026, nVent had $1.5 billion of total debt on a consolidated basis.
The company expects the acquisition to close in the fourth quarter of 2026. The purchase agreement allows either side to walk away after Nov. 20, 2026 if the deal has not closed, with a possible extension to Feb. 19, 2027 in some cases.
Management said the Maverick Power transaction will require significant integration work and could add costs tied to systems, compliance and internal controls. It also flagged the risk that undisclosed liabilities at Maverick Power could surface after closing.
The deal would materially increase leverage. nVent said the added debt would raise interest-payment obligations, reduce flexibility for future borrowing and acquisitions, and could force the company to seek refinancing, sell assets or cut spending if cash flow falls short. As a result of these announcements, the company's shares have moved 0.95% on the market, and are now trading at a price of $148.20. If you want to know more, read the company's complete 8-K report here.
