nVent Electric to acquire Maverick Power for up to $2.3 billion

nVent Electric plc has entered into a definitive agreement to acquire Maverick Power for an upfront price of $1.75 billion. The deal includes potential additional cash payments of up to $550 million based on performance metrics achieved in 2027 and 2028, bringing the total potential consideration to $2.3 billion.

Maverick Power, headquartered in McKinney, Texas, specializes in engineered power distribution and infrastructure solutions for data centers. Its product portfolio includes low-voltage and medium-voltage switchgear, switchboards, and integrated modular solutions. The company employs approximately 900 people across Texas and Arizona and is projected to generate roughly $700 million in revenue in 2026.

The acquisition aims to strengthen nVent’s position in the high-growth data center infrastructure market. By integrating Maverick’s power distribution platform, nVent intends to expand its ability to provide system-level solutions for complex computing facilities that require sophisticated electrical systems to support AI and cloud computing workloads.