nVent Signs Agreement to Acquire Eldon Enclosures Business

EIN 32 CS nVent 400

Aug 2, 2019

nVent Electric plc announced it has signed an agreement to acquire Eldon, a privately held European-based enclosures business, for a cash purchase price of approximately $130 million, subject to customary adjustment and including repayment of Eldon debt.

The acquisition of Eldon and its highly complementary portfolio will position nVent well for global growth.

Eldon is headquartered in Madrid, Spain, with global offices and primary manufacturing in Romania. For the period ending Dec. 31, 2018, sales of the business were approximately $90 million.

Completion of the acquisition is pending regulatory approval. nVent expects the transaction to close in 2019, and to be accretive to EPS within the first 12 months following acquisition.

Source

Related Articles

Eaton Announces Shelly Vaz as Business Unit Manager, CPDI, Electrical Sector – Electrical Americas – Canada

Eaton Announces Shelly Vaz as Business Unit Manager, CPDI, Electrical Sector – Electrical Americas – Canada

May 31, 2024 Eaton are pleased to announce the selection of Shelly Vaz to the position of business unit manager, CPDI, Electrical Sector – Electrical Americas – Canada, effective May 1. Shelly will be located out of our Toronto, Ontario office. In her new role, Shelly will be responsible for leading the Critical Power and Digital Infrastructure (CPDI)…

EON VRT 400

Northern Transformer Completes Strategic Acquisition of VRT Power’s North American Products

Northern Transformer Corporation, a manufacturer of power transformers for the North American utility market based in Toronto, announced the acquisition of the North American brand, products and designs of VRT Power Ltd. of Tel Aviv, Israel. Terms of the transaction were not disclosed.

 

 

EIN Toronto logo 400

City of Toronto Offers Zero-Interest Loans, Incentives to Accelerate Home Retrofits and Emissions Reductions

The City of Toronto announced the launch of an enhanced Home Energy Loan Program (HELP) that will offer zero-interest loans and incentives to help Toronto homeowners make their homes more energy-efficient and reduce the emissions contributing to climate change.

 

 

Latest Articles

  • Declines in Ontario and Manitoba Construction Intentions Push Down the Non-Residential Sector

    Declines in Ontario and Manitoba Construction Intentions Push Down the Non-Residential Sector

    December 16, 2024 The total value of building permits issued in Canada decreased by $399.1 million (-3.1%) to $12.6 billion in October. This comes on the heels of a strong September, during which construction intentions rose by $1.3 billion to the second-highest level in the series. Despite the monthly decline in October, the total value of building permits… Read More…

  • Lighting Control Basics for Home Automation

    Lighting Control Basics for Home Automation

    By Matthew Biswas Do your eyes roll when you hear terms like Smart home technology?  Or are you a true believer?  As it turns out controlling electrical devices via low-voltage technology can be easier to implement and use than many of us thought. The Lutron Caseta system uses the internet and Radio Frequency to instantly… Read More…

  • Grounded in Ontario: The Future of Energy Storage Systems

    Grounded in Ontario: The Future of Energy Storage Systems

    December 16, 2024 Technical Advisor Trevor Tremblay explains why following best practices and relying on licensed professionals will ensure a smooth and secure transition when integrating this exciting new technology. Energy Storage Systems (ESS) are revolutionizing the way individuals and businesses manage energy, providing cost-saving opportunities, increased energy reliability, and a pathway toward sustainability. In… Read More…

  • 4 in 5 Canadians See Electrifying Public Transit as Key to Advancing Climate Action, Schneider Electric Survey Finds

    4 in 5 Canadians See Electrifying Public Transit as Key to Advancing Climate Action, Schneider Electric Survey Finds

    December 13, 2024 Schneider Electric has released new survey findings showing Canadians are increasingly concerned about the environmental impact of traditional public transit emissions. According to the survey, 83 per cent of Canadians recognize the need for electrified transit to support a sustainable future and are seeking actionable and innovative solutions to ease the nation’s… Read More…

Changing Scene