05:32 PM EST, 01/30/2025 (MT Newswires) -- NVent Electric ( NVT ) said late Thursday it closed the sale of its thermal management business to funds managed by Brookfield Asset Management ( BAM ) for $1.7 billion.
The company expects net after-tax proceeds of about $1.4 billion from the transaction. It plans to use the proceeds for acquisitions and share buybacks.