nVent Electric to acquire ECM Investors for $1.1B; expects Q2 2023 close

nVent Electric plc

Aggregate purchase price of $1.1B, subject to customary adjustments.
Acquisition expected to close in Q2 2023, subject to HSR and other conditions.
nVent to fund with available cash and new debt; JPMorgan committed $800M bridge facility.
ECM Investors is parent of ECM Industries, LLC; nVent will indirectly own all equity.
Merger agreement includes customary representations, warranties, and termination rights.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

nVent Electric plc entered into Merger Agreement with ECM Investors, LLC, Sentinel ECM Blocker, Inc., et al. valued at $1.1 billion (effective 2023-04-01).

Action: entry
Agreement: merger
Counterparty: ECM Investors, LLC, Sentinel ECM Blocker, Inc., et al.
Value: $1.1 billion
Effective: 2023-04-01

Exact text from the filing

On April 1, 2023, nVent Electric plc (the “Company”) entered into a Merger Agreement with ECM Investors, LLC (“ECM Investors”), Sentinel ECM Blocker, Inc. (“Blocker Corp”), Lionel Acquisition Co., a subsidiary of the Company (“Purchaser”), Everest Blocker Holding, Inc., a subsidiary of the Company (“Blocker Purchaser”), Everest Acquisition Merger Sub, LLC, a subsidiary of the Company (“Merger Sub”), Everest Blocker Merger Sub, Inc., a subsidiary of the Company (“Blocker Merger Sub”), and Sentinel Capital Partners L.L.C. (the “Merger Agreement”).

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nVent Electric plc filing history →

Source: SEC EDGAR

accession 0001104659-23-041559

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