nVent Electric buying parent of ECM Industries for $1.1 bln
nVent Electric Plc (NVT) said Monday it'll pay $1.1 billion for ECM Investors LLC, the parent of ECM Industries LLC, a maker of Ilsco electrical connectors, tools and test instruments, and cable management gear. "Together with ECM, nVent can provide a broader offering to customers, including electrical contractors, and to distribution partners," nVent CEO Beth Wozniak said. nVent stock is up 2.5% in premarket trades. Based in New Berlin, Wisc., ECM Industries employs about 1,400 people, with $415 million in revenue.
-Steve Gelsi
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04-03-23 0645ET
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