May 4 (Reuters) - Electrical equipment maker Hubbell

said on Monday it had agreed to acquire peer NSI

Industries, a portfolio company of Sentinel Capital Partners,

for $3 billion in cash.

The deal comes as surging AI-driven data center construction

and stepped-up utility spending on grid modernization and aging

infrastructure lift demand for electrical components.

Huntersville, North Carolina-based NSI Industries is a

supplier of electrical fittings, connectors, components and wire

management products. It anticipates 2026 revenue of about $570

million.

Hubbell said it plans to finance the transaction, which is

expected to close in mid-2026, with cash on hand and debt and

has obtained fully committed bridge financing from JPMorgan

Chase Bank, Bank of America ( BAC ) and HSBC Bank USA

.