nVent to Acquire ECM Industries

Rhea-AI Summary

On April 3, 2023, nVent Electric (NYSE: NVT) announced its acquisition of ECM Industries, a global manufacturer of electrical products. This strategic move aims to expand nVent's product offerings and market reach. nVent, which employs over 10,000 people across 130 locations, is known for its high-performance electrical solutions. ECM's portfolio includes renowned brands such as ILSCO and Gardner Bender, providing innovative products for various sectors. CEO Mike Masino expressed confidence that this partnership will benefit employees, customers, and partners, marking an exciting phase in ECM's evolution.

Positive

• Acquisition expected to enhance nVent's product portfolio and market reach.
• ECM Industries has a strong brand portfolio with over 125 years of market presence.
• Synergies from the integration of ECM's and nVent's operations could lead to revenue growth.

Negative

• None.

NEW BERLIN, Wis., April 3, 2023 /PRNewswire/ -- ECM Investors, LLC, the parent company of ECM Industries, LLC, announced it has signed an agreement to be acquired by nVent Electric plc (NYSE: NVT) ("nVent"). nVent is a leading global provider of electrical connection and protection solutions. With a team of 10,000+ people at more than 130 sites around the world, nVent designs, manufactures, markets, installs and services high-performance products and solutions that connect and protect mission critical equipment, buildings and essential processes. nVent has industry-leading brands that are recognized globally for quality, reliability and innovation, including nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER. Its management office is in St. Louis Park, Minnesota.

nVent to Acquire ECM Industries

Mike Masino, CEO – ECM Industries stated, "This is an exciting time in ECM's evolution. This next step with a successful, fast-growing and globally recognized electrical industry leader will be beneficial for our employees, customers and partners."

About ECM Industries

ECM is a global manufacturer and supplier of electrical products for construction and maintenance, irrigation and landscape supply and utility markets. The ECM Industries portfolio consists of leading brands ILSCO, Utilco, Gardner Bender, Sperry Instruments, Bergen Industries and King Innovation. These brands have been supplying electricians, do-it-yourselfers, contractors, and maintenance technicians with a wide variety of innovative products for over 125 years. The ECM brands are widely stocked and distributed through leading wholesalers, retailers, catalogs and e-commerce distributors. For more on ECM Industries please visit  www.ecmindustries.com.

About nVent:

nVent is a leading global provider of electrical connection and protection solutions. We believe our inventive electrical solutions enable safer systems and ensure a more secure world. We design, manufacture, market, install and service high performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings and critical processes. We offer a comprehensive range of enclosures, electrical connections and fastening and thermal management solutions across industry-leading brands that are recognized globally for quality, reliability and innovation. Our principal office is in London and our management office in the United States is in Minneapolis. Our robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER. Learn more at www.nvent.com.

nVent, CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER are trademarks owned or licensed by nVent Services GmbH or its affiliates.

For further information:
David Hackbarth
Marketing Manager - ECM Industries
262.317.8782
David.Hackbarth@ecmindustries.com

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SOURCE ECM Industries

FAQ

What is the date of nVent's acquisition of ECM Industries?

The acquisition was announced on April 3, 2023.

What is nVent's stock symbol?

nVent's stock symbol is NVT.

What are the expected benefits of the acquisition of ECM Industries by nVent?

The acquisition is expected to enhance nVent's product offerings and market reach, benefiting employees, customers, and partners.

Which brands does ECM Industries include?

ECM Industries includes brands such as ILSCO, Gardner Bender, and others.

How many employees does nVent have?

nVent employs over 10,000 people worldwide.