Global electrical connection products manufacturer nVent Electric announced April 3 it has entered into an agreement to acquire ECM Investors for $1.1 billion. ECM Investors is the parent company of ECM Industries, a fellow manufacturer of electrical connection products.
Headquartered in New Berlin, Wisconsin, ECM is a manufacturer and distributor of electrical products used in the residential construction, commercial construction, alternative energy, landscape and irrigation systems, utility and automotive industries, according to its website. ECM’s brands include Gardner Bender, ILSCO, King Innovation and Bergen Industries.
ECM will join nVent’s Electrical and Fastening Solutions business segment, according to a news release.
“This deal aligns with nVent’s acquisition strategy focused on great products in high-growth verticals that we can scale, positioning us for continued long-term value creation,” nVent CEO Beth Wozniak said in the release. “ECM Industries has a highly complementary portfolio of electrical power connection and grounding solutions, including its ILSCO brand. Together with ECM, nVent can provide a broader offering to customers, including electrical contractors, and to distribution partners. With a long history of focusing on the customer and growth, industry-leading brands and a people oriented culture, we believe ECM will be a great fit with nVent.”
The acquisition is expected to close in the second quarter of 2023, subject to customary conditions, according to the release. nVent plans to fund the acquisition with a combination of available cash on hand and new debt, the release said.