nVent Electric plc has completed the acquisition of Eldon Holding AB, a privately held European-based enclosures business, for a cash purchase price of approximately $128 million, including repayment of Eldon debt, according to the company.
“Eldon is highly complementary to our enclosures business. The company has been focused on strengthening its digital capabilities to serve customers with velocity – aligning extraordinarily well with our strategy,” says Beth Wozniak, nVent CEO. “Our teams are working to smoothly integrate the Eldon business, and we’re excited to welcome many new team members. Together, we will be able to quickly respond to customers around the world and provide advanced and flexible solutions while strengthening our global growth opportunities.”
nVent provides electrical connection and protection solutions that protect, connect and manage heat in critical electronics, communication, control and power equipment through its nVent HOFFMAN and nVent SCHROFF brands.