nVent Signs Agreement to Acquire CIS Global
June 10, 2021
nVent Electric plc has recently announced it has entered into a definitive agreement to acquire CIS Global LLC, a privately held major provider of mission critical power and server rack-mount slide products for the rapidly growing data center and networking industries. 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 major provider of data center 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 centers across the world improve operational efficiency and optimize energy utilization 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 centers. Their highly complementary portfolio and manufacturing footprint will extend our global growth opportunities with solutions focused on connecting and protecting the future of electrification. We expect CIS Global will be operated as a separate business within the nVent Enclosures segment.
The closing is subject to customary conditions, including regulatory approval. We expect to share additional information during nVent’s second quarter earnings call.
