nVent to sell Thermal Management business to Brookfield affiliate for $1.7B

nVent Electric plc

nVent Electric agrees to sell its Thermal Management business to BCP Acquisitions LLC (Brookfield) for $1.7B in cash.
Purchase price subject to working capital, cash, and debt adjustments; assumption of certain liabilities by buyer.
Closing conditions include HSR and other antitrust clearances; transaction must close by April 30, 2025.
Buyer must pay nVent a $136M termination fee if it fails to close after conditions satisfied or for covenant breach.
Transaction involves pre-closing reorganization; seller retains cash, tax refunds, and specified excluded assets.

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