$925 Billion Brookfield Asset Management to Buy $10 Billion nVent Electric Thermal Management Business for $1.7 Billion
7th August 2024 | Hong Kong
Brookfield Asset Management ($925 billion AUM) has announced to buy nVent Electric ($10 billion market value) Thermal Management business for $1.7 billion. nVent Electric (1/8/24): “nVent Electric, a global leader in electrical connection and protection solutions, today announced that it has entered into a definitive agreement to sell its Thermal Management business (“Thermal Management”), which includes the industry-leading 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 leader in mission critical electrical thermal solutions. The sale will enable Thermal Management to further build on its leading positions and differentiated solutions to drive growth across its verticals and expand with the energy transition.”
“ $925 Billion Brookfield Asset Management to Buy $10 Billion nVent Electric Thermal Management Business for $1.7 Billion “
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, ILSCO, RAYCHEM and SCHROFF.
$925 Billion Brookfield Asset Management to Buy $10 Billion nVent Electric Thermal Management Business for $1.7 Billion
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