nVent Electric – a global leader in electrical connection and protection solutions, announced today the completion of the acquisition of CIS Global LLC, a privately held leading provider of mission critical power and server rack-mount slide products for the rapidly growing data center and networking industries. The acquisition transaction is expected to close in the third quarter for approximately $200 million in cash, subject to adjustment.
CIS Global is a market leader in data center power management solutions. The growing demand for data services is driving investments in information technology and server technology. The demand for servers and associated power solutions is being driven by 5G wireless and demand for artificial intelligence and edge computing. CIS Global is headquartered in Tucson, Arizona and employs approximately 850 people globally. The company operates five manufacturing facilities in China, India, and Thailand.
“We are excited about CIS Global’s strong team, technology, and innovation. In conjunction with our Enclosures solutions, we can assist data centers worldwide in increasing operational efficiency and optimizing energy utilization through the use of leading technologies in heat and power management, which are critical for electrical resiliency,” said nVent Electric Enclosures President Joe Ruzynski. “Our priority following the transaction will be to continue serving and growing the CIS Global customer base through innovative solutions.”
CIS Global’s acquisition will bolster nVent’s ability to protect data centers through innovative products that help manage heat and provide power solutions. Their highly complementary portfolio and manufacturing footprint will enable us to expand our global growth opportunities by providing solutions for connecting and protecting the electrification future. We anticipate that CIS Global will operate independently from the nVent Enclosures segment.
The transaction is subject to customary closing conditions, which include regulatory approval. Additional information will be shared during nVent Electric second quarter earnings call.
nVent is a market leader in the provision of electrical connection and protection solutions on a global scale. We believe that our innovative electrical solutions contribute to the safety of systems and contribute to a more secure world. We create, manufacture, market, instal, and service high-performance products and solutions that connect and protect some of the most sensitive equipment, buildings, and critical processes in the world. We offer a comprehensive range of enclosures, electrical connections and fastening systems, as well as thermal management solutions, through industry-leading brands that are globally recognised for their quality, reliability, and innovation. Our headquarters are located in London, while our management office in the United States is located in Minneapolis. nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF, and TRACER are among our illustrious portfolio of leading electrical product brands that date back more than a century.
nVent, CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF, and TRACER are either registered or unregistered trademarks of nVent Services GmbH or its affiliates.