NVent Electric Strikes $1.75 Billion Deal to Buy Maverick Power

11:46 AM EDT, 08/24/2026 (MT Newswires) -- NVent Electric (NVT) agreed to acquire Maverick Power for $1.75 billion to expand its portfolio of energy equipment offerings for the growing number of data centers, the companies said Monday. The deal, which the companies expect to close in the last quarter of this year, includes a potential additional cash consideration of up to $550 million tied to certain performance metrics in 2027 and 2028. Based in Texas, Maverick designs and deploys power distribution equipment to industries including data centers, such as low-voltage switchgear and switchboards. "Maverick Power is a great fit for nVent and aligns with our strategy to focus on the high-growth infrastructure vertical," Chief Executive Beth Wozniak said. "Maverick Power brings strong power distribution expertise and broadens our offerings to data center customers." Data centers are sprouting in the US and elsewhere amid surging demand for artificial intelligence and cloud services. Hyperscalers such as Amazon.com (AMZN), Meta Platforms (META), Microsoft (MSFT), and Alphabet (GOOG, GOOGL) are spending enormous sums to expand their AI infrastructure footprints globally. Morgan Stanley said in a February note that AI is driving an "unprecedented surge" in global electricity demand, with data centers expected to account for nearly 20% of the growth. The investment firm estimated that US data center demand could reach 74 gigawatts by 2028, with a projected shortfall of about 49 gigawatts in available power access and a need for billions in capital for new energy infrastructure investment. The AI demand-driven surge in power requirements has also put a spotlight on mergers and acquisitions in the energy sector. In July, NextEra Energy (NEE) and Dominion Energy (D) filed for regulatory approval to merge their operations to create a larger energy provider capable of meeting growing electricity demand. NVent expects the Maverick acquisition, which is still subject to regulatory approval, to be accretive to per-share adjusted earnings in the first year after closing, their joint statement said. Maverick is expected to generate revenue of about $700 million in 2026, the companies said. "This is a significant milestone for our company, and we are thrilled to be joining nVent," Maverick CEO Tom Currier said. "Together, we will deliver a broader power and cooling portfolio for data center customers." Price: 151.73, Change: -0.25, Percent Change: -0.16