nVent completes sale of Thermal Management business to Brookfield for ~$1.7B cash

nVent Electric plc

Sale closed January 30, 2025; nVent received approx. $1.7 billion in cash, subject to post-closing adjustments.
Pro forma FY 2023 net sales from continuing operations $2.67B vs $3.26B reported; net income $465.7M vs $567.1M.
Pro forma balance sheet at Sep 30, 2024 shows $1.58B additional cash; estimated $180M tax liability on gain.
Transition Services Agreement with Brookfield for up to nine months; estimated TSA income included in pro forma adjustments.

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