nVent agrees to buy Maverick Power for up to $2.3 billion

nVent Electric agreed to buy power-distribution company Maverick Power for $1.75 billion as it seeks greater exposure to the construction of AI data centers, Bloomberg reported.

The deal includes as much as $550 million in additional cash if Maverick meets performance targets, bringing the potential value to $2.3 billion. Maverick is expected to generate $700 million in revenue this year.

Maverick will add switchgear, control panels, and power-distribution products to nVent’s portfolio. The company already specializes in liquid-cooling systems, which are increasingly used to manage the higher power demands of advanced AI chips.

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