News for Panel Builders

nVent Electric plc has recently announced that it has entered into a definitive agreement to sell its Thermal Management business (“Thermal Management”), which includes the RAYCHEM and TRACER brands, to funds managed by Brookfield Asset Management for a cash purchase price of $1.7 billion, subject to customary closing adjustments. With 2023 sales of $595 million and approximately 1,700 employees around the world, Thermal Management is a provider of mission critical electrical thermal solutions. The sale will enable Thermal Management to further build on its positions and differentiated solutions to drive growth across its verticals and expand with the energy transition.

nVent Electric plc has recently announced that it has completed the previously announced acquisition of the parent of Trachte, LLC for a purchase price of $695 million, subject to customary adjustments. Trachte is a manufacturer of custom-engineered control building solutions designed to protect critical electrical infrastructure assets. nVent Chair and CEO Beth Wozniak said, “I am excited to welcome the Trachte team to nVent. Trachte expands our enclosures portfolio with a new platform and enhances our systems protection capability, further strengthening our position with the electrification of everything. The addition of Trachte will better position us to serve customers with a broader solutions offering, with our combined expertise and capabilities.”