NVENT TO ACQUIRE CIS GLOBAL

Publishing Date: Jun 10, 2021

Datacentres for better security

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NVENT TO ACQUIRE CIS GLOBAL

PRESS RELEASE: LONDON – nVent Electric plc (“nVent”), announced it has entered into a definitive agreement to acquire CIS Global LLC. The transaction is expected to be completed by the third quarter for a cash purchase price of approximately $200 million, subject to adjustments.

CIS Global is a provider of data centre power solutions. There is an increasing demand for data services that is propelling investments in IT and server technology. Key drivers include 5G wireless and demand for artificial intelligence and edge computing, creating demand for servers and related power solutions. CIS Global is headquartered in Tucson, Arizona with five manufacturing facilities including China, India and Thailand with approximately 850 employees globally.

We are excited about the strong team, technology and innovation at CIS Global. Combined with our Enclosures solutions, we can help data centres across the world improve operational efficiency and optimise energy utilisation with leading technologies in heat and power management, both critical for electrical resiliency,” said nVent Enclosures President Joe Ruzynski. “Our priority after closing will be to serve and grow the CIS Global customer base with innovative solutions.”

The addition of CIS Global will strengthen nVent’s ability to provide protection, with innovative products to help manage heat and provide power solutions in data centres. It is expected that CIS Global will be operated as a separate business within the nVent Enclosures segment.

The closing is subject to customary conditions, including regulatory approval.

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