NVent to buy ECM Industries parent for $1.1 bln (updated)

nVent Electric

03/04/2023 11:56

(Adds details, background)
       April 3 (Reuters) - Electrical components manufacturer
nVent Electric  NVT.N  said on Monday it will acquire ECM
Industries parent ECM Investors for $1.1 billion.
    UK-based nVent expects the buyout to add to its profits this
year, after the transaction is closed.
    ECM Industries, which has about 1,400 employees, is a
manufacturer and supplier of electrical products used in
irrigation, construction and other sectors.
    The company, based in New Berlin, Wisconsin, reported
revenue of $415 million in the twelve months ended Feb. 28.
    
    
    

 (Reporting by Akash Sriram in Bengaluru; Editing by Shinjini
Ganguli)
 ((Akash.Sriram@thomsonreuters.com; @HoodieOnVeshti on
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