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nVent Electric plc (NYSE:NVT) shares are trading lower premarket on Monday. The company disclosed a deal to acquire the enclosures, switchgear, and bus systems businesses (Electrical Products Group) of Avail Infrastructure Solutions for $975 million.
The Electrical Products Group business is a North American provider of infrastructure solutions with approximately 1,100 employees and nine manufacturing locations in the U.S. Electrical Products Group estimates revenues of approximately $375 million in the 12 months ending February 28, 2025, and has a strong backlog.
The company expects the acquisition to be accretive to adjusted earnings per …
