NVent Electric To Acquire Trachte - Quick Facts
(RTTNews) - nVent Electric plc (NVT) has entered into a definitive agreement to acquire the parent of Trachte, LLC for a purchase price of $695 million. Trachte is a manufacturer of custom-engineered control building solutions designed to protect critical infrastructure assets. nVent expects the acquisition to be accretive to adjusted earnings per share in the first year following completion.
Trachte is headquartered in Madison, Wisconsin. It estimates 2024 revenues to be approximately $250 million. Upon closing, nVent plans to operate Trachte within its Enclosures segment.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.