nVent Electric to buy Maverick Power for $1.75 billion to expand data center offerings

Aug 24 : nVent Electric said on Monday it would acquire data center equipment maker Maverick Power for $1.75 billion as it looks to expand its presence in a booming AI infrastructure market.Electrical equipment and systems suppliers like nVent have benefited as companies ramp up investment to support the rapid expansion of AI computing capacity, with CEO Beth Wozniak saying the Maverick acquisition will add power distribution capabilities and strengthen its offerings to data center customers.• The deal also includes a potential additional consideration of up to $550 million in cash if Maverick achieves certain performance targets in 2027 and 2028, nVent said.• McKinney, Texas-based Maverick Power makes engineered power distribution and infrastructure solutions, including low- and medium-vo