(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.
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