NVent to acquire Maverick Power for up to $2.3B to deepen its AI data center footprint

NVent Electric is writing another large check for the AI data center boom. The company announced a definitive agreement to acquire Maverick Power, a North American manufacturer of engineered power distribution equipment, for a base price of $1.75 billion, with up to $550 million in additional earn-out payments tied to 2027 and 2028 performance targets. That puts the total potential price tag at roughly $2.3 billion. Maverick Power is projected to generate approximately $700 million in revenue in 2026. Inside the deal The transaction is valued at approximately 11.5x Maverick Power’s anticipated 2026 adjusted EBITDA. Maverick specializes in low and medium-voltage switchgear and switchboards, the kind of heavy-duty electrical distribution equipment that hyperscale data centers consume in enormous quantities. The acquisition is expected to close in the fourth quarter of 2026, pending regulatory approvals. NVent projects the deal will be accretive to its adjusted earnings per share in the first full year after closing. Maverick Power CEO Tom Currier founded the company around 2020. NVent’s M&A playbook takes shape This isn’t nVent’s first acquisition aimed squarely at data center de...