M&A Deal Summary

nVent Electric Acquires ECM Industries

On April 3, 2023, nVent Electric acquired electrical equipment company ECM Industries from Sentinel Capital Partners and NMP Capital for 1.1B USD

Acquisition Highlights
  • This is nVent Electric’s 1st transaction in the Electrical Equipment sector.
  • This is nVent Electric’s largest (disclosed) transaction.
  • This is nVent Electric’s 4th transaction in the United States.
  • This is nVent Electric’s 1st transaction in Wisconsin.

M&A Deal Summary
Date 2023-04-03
Target ECM Industries
Sector Electrical Equipment
Buyer(s) nVent Electric
Sellers(s) Sentinel Capital Partners
NMP Capital
Deal Type Add-on Acquisition
Deal Value 1.1B USD

Target

ECM Industries

New Berlin, Wisconsin, United States
ECM Industries is a manufacturer and supplier of electrical products for construction, maintenance, lighting, irrigation, landscape supply, and gas utility markets. ECM Industries is based in New Berlin, Wisconsin.

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Buyer(S) 1

Buyer

nVent Electric

London, United Kingdom
Category Company
Founded 1903
Sector Electrical Equipment
Employees11,300
Revenue 3.3B USD (2023)
DESCRIPTION

nVent Electric is a provider of electrical connection and protection solutions. nVent designs, manufactures, markets, installs, and services high-performance products and solutions that connect and protect some of the world’s most sensitive equipment, buildings, and critical processes. nVent offers a comprehensive range of enclosures, electrical connections and fastening, and thermal management solutions across industry-leading brands that are recognized globally for quality, reliability, and innovation. The Company's principal office is in London, United Kingdom and our management office in the United States is in Minneapolis, Minnesota. nVent Electric was founded in 1903 and is based in London, England.

DEAL STATS #
Overall 6 of 8
Sector (Electrical Equipment) 1 of 2
Type (Add-on Acquisition) 5 of 7
State (Wisconsin) 1 of 2
Country (United States) 4 of 5
Year (2023) 1 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-06 Iceotope

Sheffield, United Kingdom

Iceotope’s chassis-level precision immersion cooling solutions are engineered to cool the whole IT stack, in every use case, from Hyperscale to the Extreme Edge. Its cooling technologies can easily accommodate the increasing heat loads from the latest and future processor roadmaps and fit all standard form factors, including retrofit. By removing the need for fans and air-cooling infrastructure, Iceotope’s technologies operate in near silence bringing game-changing reductions in energy, water, and space consumption, and significant cost reductions in the design, build, and operation of data centers. Its precision immersion cooling uniquely allows computing to be deployed to hostile, harsh, and extreme edge locations in a sealed and safe environment which makes it impervious to heat, dust, and humidity, while endowing it with a high degree of human error resilience. Iceotope was formed in 2005 and is based in Sheffield, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-11 TEXA Industries

Mantua, Italy

TEXA Industries is a provider of industrial cooling applications, including air conditioners and chillers, based in Mantua, Italy.

Buy -

Seller(S) 2

SELLER

Sentinel Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 11.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sentinel Capital Partners is a private equity firm that targets investments in middle-market companies with strong management and 'attractive growth prospects'. Sentinel looks to invest up to $400 million of equity in companies generating EBITDA of up to $65 million. Sectors of interest include business services/outsourcing, consumer products and services, food and restaurants, franchising, and manufacturing. Prospective transaction situations include management buyouts, recapitalizations, corporate divestitures, take-privates, and growth capital financings. Sentinel Capital Partners was formed in 1995 and is based in New York, New York.

DEAL STATS #
Overall 69 of 69
Sector (Electrical Equipment) 4 of 4
Type (Add-on Acquisition) 17 of 17
State (Wisconsin) 5 of 5
Country (United States) 62 of 62
Year (2023) 2 of 2
Size (of disclosed) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-01 Apex Companies

Rockville, Maryland, United States

Apex is a multi-disciplinary environmental services firm with 28 branches located throughout the Eastern and Central United States. The company provides a broad platform of environmental services, including stormwater system design, engineering, and maintenance; ports, harbors, and water system design and engineering; environmental remediation; industrial hygiene services; and general site assessment, regulatory compliance, and environmental consulting work. Apex was formed in 1988 and is headquartered in Rockville, Maryland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-19 Online Labels

Sanford, Florida, United States

Online Labels provides a full suite of custom printed pressure sensitive, shrink sleeve, flexible packaging, and blank labels on sheets and rolls to small businesses, consumers, and middle-market brands via enterprise relationships and a direct-to-consumer e-commerce platform. Online Labels provides labeling solutions for consumer products such as food, health and beauty, and nutritional supplements, as well as numerous other products requiring primarily pressure sensitive labels. Online Labels was founded in 1980 and is based in Sanford, Florida.

Buy -
SELLER

NMP Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NMP Capital is an independent investment firm focused on providing junior capital to a variety of lower middle-market companies in partnership with financial sponsors. NMP looks to commit $20 to $75 million in profitable companies with at least $10 million of EBITDA. NMP will consider opportunities in a wide range of industries including distribution, manufacturing, healthcare, and consumer. NMP Capital was formed in 2000 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 52 of 54
Sector (Electrical Equipment) 2 of 2
Type (Add-on Acquisition) 25 of 27
State (Wisconsin) 4 of 4
Country (United States) 50 of 52
Year (2023) 1 of 2
Size (of disclosed) 3 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-16 L2 Brands

Hanover, Pennsylvania, United States

L2 Brands is a manufacturer and supplier of branded collegiate-licensed apparel. L2 Brands provides a full apparel offering including high-quality t-shirts, fleece, and bottoms, as well as adjacent product categories such as spirit blankets and pillows. L2 Brands was founded in 1991 and is based in Hanover, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-26 Bix Produce

Little Canada, Minnesota, United States

Bix Produce processes and distributes the finest quality bulk and pre-cut fruits and vegetables, dairy, and related food items to food service operators, including restaurants, hotels, educational institutions, health care facilities, and country clubs. Bix Produce was founded in 1930 and is based in Little Canada, Minnesota.

Sell -
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