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nVent buys US electricals supplier ECM, for $1.1bn

04 April, 2023

The electrical connection and protection systems supplier nVent Electric is buying ECM Investors – which owns the US-based connectors, tools, test instruments, and cable management specialist ECM Industries – for $1.1bn.

nVent says that ECM complements its existing power connection and grounding systems portfolio, and will extend its cable management offering with complementary products, as well as adding tools and test instruments. The deal will position nVent to electrify high-growth vertical markets, including commercial businesses, power utilities, data centres and the renewables sector.

The transaction is expected to close in the second quarter of 2023, and nVent is planning to operate ECM as part of its Electrical and Fastening Solutions business.

“This deal aligns with nVent’s acquisition strategy focused on great products in high-growth verticals that we can scale, positioning us for continued long-term value creation,” says nVent CEO, Beth Wozniak. “ECM Industries has a highly complementary portfolio of electrical power connection and grounding solutions, including its Ilsco brand. Together with ECM, nVent can provide a broader offering to customers, including electrical contractors, and to distribution partners. We believe ECM will be a great fit with nVent.”

ECM Industries, headquartered in Wisconsin, has around 1,400 employees and generated revenues of $415m and an Ebitda of $104m in the year to February 2023. Its brands include Ilsco, Gardner Bender and King Innovation. ECM’s connectivity products account for about 60% of its revenues, tools and test instruments for 20%, and cable management systems for the final 20%.

ECM can trace its history back to 1894, when Lyle Williams founded the Incandescent Light & Stove Company to serve the gas lighting market. The business, now known as Ilsco, evolved into a supplier of power and grounding connectors and accessories.

ECM’s portfolio includes connectivity and cable management products, as well as tools and test instruments

nVent was created in 2017 when Pentair plc spun off its electrical activities including the Schroff, Hoffman, Caddy, Erico, Raychem and Tracer brands. Its portfolio includes enclosures, electrical connections and fastening and thermal management systems. nVent’s headquarters are in London and its management office is in the US.

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