nVent Electric (NYSE: NVT), a worldwide pioneer in electrical connection and protection solutions, has announced that its acquisition of CIS Global, a manufacturer of intelligent rack power distribution and server sliding products, has been completed. CIS Global was bought for about $200 million in cash, subject to normal adjustments, and had sales of more than $80 million in 2020.
“The increasing demand for electrifying the world around us is sparking a dramatic increase in the need for protecting, powering and managing heat in large data centers and edge computing applications,” said nVent Enclosures President Joe Ruzynski. “With CIS Global’s innovative solutions in intelligent rack power distribution and proven capabilities in server slides, we will accelerate our growth plan centered around electrification, which includes providing leading technologies in heat and power management for data center and networking applications.”
Data Centers, Networking Solutions
The acquisition would strengthen nVent’s global offering in data centers and networking solutions. It would also expand the company’s capabilities in advanced technologies in power management with the addition of intelligent rack power distribution and server slides.
“We are excited to join the nVent family. nVent has a strong vision and approach to business that closely aligns with our core values around customers, innovation and people,” said CIS Global Business President Shubhayu Chakraborty. “Our portfolio is complementary to nVent’s, which when combined, allows us to bring a greater breadth of solutions to our customers and expands our value proposition to a broader base through an extended global reach.”
nVent’s principal office is in London while their management office in the United States is in Minneapolis. The company’s portfolio of electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER.