nVent Completes Acquisition of Eldon

nVent has received regulatory approval and completed the transaction for its acquisition of Eldon, a privately-held enclosures business based in Europe. Eldon is now part of the nVent Enclosures business, and our integration team is focused on a smooth transition to bring together our businesses and teams.

nVent has received regulatory approval and completed the transaction for its acquisition of Eldon, a privately-held enclosures business based in Europe. Eldon is now part of the nVent Enclosures business, and our integration team is focused on a smooth transition to bring together our businesses and teams.

“By combining the Eldon product portfolio with ours, we have strengthened our ability to serve globally, and to quickly provide customers around the world with our broad portfolio and advanced solutions,” said Joe Ruzynski, President, nVent Enclosures.

Founded in Sweden nearly 100 years ago, Eldon has approximately 1,000 employees, with the majority located in Romania, the location of its primary manufacturing plant.

This week, nVent leaders are visiting Romania and several other Eldon locations to officially welcome our new team members to nVent, and to discuss next steps as the businesses are joined.

As announced previously, Mustafa Karabuz, Vice President and GM of our Electronics Protection business, including nVent SCHROFF, will be leading the joint integration team. Eldon is now part of the nVent Equipment Protection business, including nVent HOFFMAN, which is led by Karla Leis, Vice President and GM. Team members who will be affected by the new organization structures have already been notified, and announcements about our new structure will be shared soon.

“On behalf of nVent employees, I am excited to welcome our new team members to nVent. Together we have a great opportunity to contribute to the future growth and success of nVent,” said Ruzynski.

The full release can be found here.

About nVent

nVent is a leading global provider of electrical connection and protection solutions. We believe our inventive electrical solutions enable safer systems and ensure a more secure world. We design, manufacture, market, install and service high performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings and critical processes. We offer 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. Our principal office is in London, United Kingdom and our management office in the United States is in Minneapolis, Minnesota. Our robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER. nVent, CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER are trademarks owned or licensed by nVent Services GmbH or its affiliates.

All statements made about the anticipated acquisition, including the anticipated benefits of the acquisition, are forward-looking statements subject to risks and uncertainties, such as the company’s ability to close the acquisition on the expected terms and schedule, the company’s ability to obtain regulatory approvals and satisfy other closing conditions, and the company’s ability to integrate the acquisition successfully, as well as other risk factors contained in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2018, as amended.

*Derived from audited consolidated financial statements of Eldon for the year ended December 31, 2018.

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