nVent Electric plc (NVT): M&A transaction — 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.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

nVent Electric plc completed a disposition involving BCP VI Summit Holdings LP, an affiliate of funds managed by Brookfield Asset Management for approximately $1.7 billion in cash (closed 2025-01-30).

Action: disposition
Counterparty: BCP VI Summit Holdings LP, an affiliate of funds managed by Brookfield Asset Management
Consideration: approximately $1.7 billion in cash
Closing: 2025-01-30

Exact text from the filing

Agreement, dated as of July 31, 2024, between the Buyer (as assignee of BCP Acquisitions LLC) and nVent. Pursuant to the Purchase Agreement, nVent received approximately $1.7 billion in cash from the Buyer, subject to certain customary post-closing adjustments. There are representations and warranties contained in the Purchase Agreement which were made by the

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Source: SEC EDGAR

accession 0001720635-25-000008

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