nVent Signs Agreement to Acquire Eldon Enclosures Business

August 6, 2019

nVent Electric plc announced it has signed an agreement to acquire Eldon, a privately held European-based enclosures business, for a cash purchase price of approximately $130 million, subject to customary adjustment and including repayment of Eldon debt.

The acquisition of Eldon and its highly complementary portfolio will position nVent well for global growth.

Eldon is headquartered in Madrid, Spain, with global offices and primary manufacturing in Romania. For the period ending Dec. 31, 2018, sales of the business were approximately $90 million.

Completion of the acquisition is pending regulatory approval. nVent expects the transaction to close in 2019, and to be accretive to EPS within the first 12 months following acquisition.

Source

Related Articles



Editor’s Pick: Featured Article

Weidmüller’s u-control 2000: The Automation Controller

Weidmüller’s u-control 2000: The Automation Controller

Weidmüller’s scalable engineering software, u-control 2000, adapts individually to your requirements. And, the u-control is powerful, compact and fully compatible with Weidmüller’s I/O system u-remote. This article looks at what makes u-control the heart of your automation.

Programmable logic controllers (PLCs) are one of the main components of any automated system. A typical control system has inputs, outputs, controllers (i.e., PLCs), and some type of human interaction with the system, a human machine interface (HMI), for example.

Read More



Latest Articles