nVent to Acquire Trachte

June 14, 2024

nVent Electric plc announced that it has entered into a definitive agreement to acquire the parent of Trachte, LLC for a purchase price of $695 million, subject to customary adjustments. Trachte is a leading manufacturer of custom-engineered control building solutions designed to protect critical infrastructure assets.

nVent Chair and CEO Beth Wozniak said, “Trachte will expand our enclosures portfolio in new applications and enhance our system protection capability. It further strengthens our solutions in high-growth verticals, including power utilities, data centers and renewables. With the macro trends of modernizing and upgrading electrical infrastructure as well as the expansion of data centers, Trachte provides us with a platform to accelerate our growth and provide broader solutions for customers. We look forward to welcoming the Trachte team to nVent, and together helping to build a more sustainable and electrified world.”

Trachte has an established history of providing control building solutions, and is headquartered in Madison, Wisconsin with more than 500 employees. Trachte estimates 2024 revenues to be approximately $250 million.

nVent expects the acquisition to be accretive to adjusted earnings per share in the first year following completion of the transaction. The effective enterprise value multiple is ~12x anticipated Trachte 2024 adjusted EBITDA. The transaction is expected to close in the third quarter of 2024, subject to customary conditions, including regulatory approval. nVent expects to fund the acquisition with a combination of available cash on hand and new debt.

Upon closing of this transaction, nVent plans to operate Trachte within its Enclosures segment.

Source

Related Articles


Latest Articles


Changing Scene

  • Eureka Wins Red Dot Award for Atoll

    Eureka Wins Red Dot Award for Atoll

    July 16, 2024 Eureka is pleased to announce that its Atoll luminaire has received a Red Dot Design Award for Product Design. It is the 10th consecutive year that Eureka products have been honored with this prestigious award, which is a testament to the company’s consistency and relentless drive to design the best luminaires in… Read More…

  • Sarah Hansen Named Western Regional Sales Manager with Hammond Manufacturing 

    Sarah Hansen Named Western Regional Sales Manager with Hammond Manufacturing 

    July 15, 2024 Hammond Manufacturing is happy to announce that Sarah Hansen (nee Hammond) has accepted the position of Western Regional Sales Manager for the electrical enclosures division. This newly created position reflects Hammond’s commitment to continued growth of enclosure sales in Western Canada. “Sarah has spent the past thirteen years in leadership positions within… Read More…

  • ABB and NASCAR Reveal EV Prototype and Launch Electrification Innovation Partnership

    ABB and NASCAR Reveal EV Prototype and Launch Electrification Innovation Partnership

    July 15, 2024 ABB in the United States and NASCAR announced the ABB NASCAR Electrification Innovation Partnership and revealed a new EV prototype at the 2024 NASCAR Chicago Street Race. This partnership brings together world leaders in EV technology and auto racing to advance NASCAR’s strategic ambitions across electrification.   “ABB is a technology leader… Read More…

  • Nedco Introduces New General Manager at Nedco West

    Nedco Introduces New General Manager at Nedco West

    July 15, 2024 Nedco has announced Jay Frezell as the new General Manager of Nedco West, effective August 1st, 2024. “Jay brings over 25 years of experience in the datacom, power quality, and wire & cable industries. His impressive track record of success in distribution, sales, and manufacturing equips him with a deep understanding of… Read More…