nVent Electric to Acquire Trachte for $695 Million-February 2024-www.financetom.com

nVent Electric to Acquire Trachte for $695 Million

News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities

nVent Electric to Acquire Trachte for $695 Million

Jun 6, 2024 4:43 AM

07:15 AM EDT, 06/06/2024 (MT Newswires) -- nVent Electric ( NVT ) said Thursday it has signed a definitive agreement to buy the parent of customized control building manufacturer Trachte for $695 million, subject to customary adjustments.

The company said it expects to use cash on hand and new debt to finance the transaction, which is anticipated to close in Q3.

The acquisition is expected to be accretive to adjusted earnings per share in the first year, according to nVent. Trachte will operate within nVent's enclosures segment after the transaction, nVent added.

Price: 79.50, Change: +0.14, Percent Change: +0.18

Previous page： This sustainable jewellery brand is luring some women away from gold Next page： Suzlon's S144–3 MW wind turbines get big boost from Indian government

Comments

Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.

Show More Comments

Related Articles >

This sustainable jewellery brand is luring some women away from gold

Oct 30, 2023

Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.

Suzlon's S144–3 MW wind turbines get big boost from Indian government

Nov 15, 2023

Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.

SJVN secures 200-MW wind power project at ₹3.24 per unit

Nov 16, 2023

Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.

Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN

Nov 28, 2023

The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.