nVent – nVent Completes Sale of Thermal Management Business

LONDON – (Business Wire) – nVent Electric plc (NYSE: NVT) (“nVent”), a global leader in electrical connection and protection solutions, today announced that it has completed the previously announced sale of its Thermal Management business to funds managed by Brookfield Asset Management for a sale price of $1.7 billion, subject to customary adjustments.

nVent expects net after-tax proceeds from the transaction of approximately $1.4 billion and intends to use the proceeds for acquisitions and share repurchases.

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