nVent Electric said on Monday it will acquire data center equipment maker Maverick Power for $1.75 billion as it seeks to expand its presence in the rapidly growing artificial intelligence infrastructure market.
The deal will strengthen nVent’s power distribution capabilities and broaden its range of products for data center customers, as companies around the world increase spending to support the rapid expansion of AI computing capacity.
nVent CEO Beth Wozniak said the acquisition would enhance the company’s ability to serve growing demand for data center infrastructure.
The transaction also includes potential additional cash payments of up to $550 million if Maverick Power meets certain performance targets in 2027 and 2028.
Based in McKinney, Texas, Maverick Power provides engineered power distribution and infrastructure solutions, including low and medium voltage switchgear and switchboards, as well as integrated modular systems.
nVent plans to finance the acquisition using a combination of cash on hand and new debt. The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approval and other customary closing conditions.
Shares of London based nVent fell 1.3% in premarket trading.
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