News

In a major push to dominate the rapidly expanding artificial intelligence and high-power computing infrastructure market, nVent Electric plc (NYSE: NVT) announced a definitive agreement to acquire Maverick Power for an upfront purchase price of $1.75 billion, with total potential consideration reaching up to $2.3 billion.

The deal brings Texas-based Maverick Power’s mission-critical power distribution systems under nVent’s umbrella, creating an electrical infrastructure powerhouse engineered to meet the soaring power densities demanded by next-generation AI data centers.

Structuring the Deal: Up to $2.3 Billion with Performance Earnouts

Under the terms of the agreement, nVent will pay $1.75 billion in cash at closing, subject to customary working capital and transaction adjustments. The transaction structure includes an additional performance-based earnout of up to $550 million in cash linked to ambitious financial and operational milestones across 2027 and 2028.

The initial $1.75 billion purchase price reflects an attractive valuation multiple of approximately 11.5 times Maverick Power’s estimated 2026 adjusted EBITDA—or roughly 10.5 times when factoring in the present value of anticipated tax benefits. nVent expects the acquisition to be immediately accretive to adjusted earnings per share (EPS) in its first full year post-closing.

Scaling Up for the AI and High-Power Boom

Headquartered in McKinney, Texas, Maverick Power has established itself as an essential supplier of engineered power infrastructure. With approximately 900 employees across operational hubs in Texas and Arizona, the company is projected to generate roughly $700 million in revenue in 2026, supported by robust order backlogs from hyperscale cloud operators and enterprise colocation providers.

Maverick’s product catalog strategically fills crucial gaps in nVent’s electrical architecture, adding:

• Low- and Medium-Voltage Switchgear: Core power management systems for large-scale facilities.
• Switchboards & Power Distribution Units: Precision high-voltage routing components.
• Integrated Modular Power Solutions: Prefabricated, rapidly deployable substations and enclosures designed to slash data center build times.

Executive Vision: Creating End-to-End System Power Solutions

"Maverick Power is a great fit for nVent and aligns directly with our strategy to focus on the high-growth infrastructure vertical," said Beth Wozniak, Chair and Chief Executive Officer of nVent. "Maverick Power brings deep engineering expertise and broadens our offerings to data center customers as we invent the electrified future together."

Maverick Power President and CEO Tom Currier called the transaction a "significant milestone," highlighting the ability to scale Maverick's platforms globally through nVent's expansive sales and distribution networks.

Financing and Path to Q4 2026 Close

nVent plans to finance the acquisition through a combination of balance sheet cash and new debt. Bank of America has committed fully underwritten bridge financing to support the transaction.

Slated to close in the fourth quarter of 2026, subject to customary regulatory approvals and closing conditions, the acquisition cements nVent’s pivot toward high-power digital infrastructure, uniting liquid cooling, structural enclosures, and power distribution into an integrated ecosystem.