{"id":768813,"date":"2023-07-11T06:33:03","date_gmt":"2023-07-11T10:33:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/nvent-acquires-texa-industries\/"},"modified":"2023-07-11T06:33:03","modified_gmt":"2023-07-11T10:33:03","slug":"nvent-acquires-texa-industries","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nvent-acquires-texa-industries\/","title":{"rendered":"nVent Acquires TEXA Industries"},"content":{"rendered":"<p>        <!--.bwlistdisc { list-style-type: disc }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>nVent Acquires TEXA Industries<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nComplements nVent\u2019s portfolio to protect critical electrical systems with expanded industrial air conditioners and chillers<\/p>\n<\/li>\n<li>\nEnhances nVent\u2019s position with the electrification of everything in high-growth verticals, such as industrial automation and energy storage<\/p>\n<\/li>\n<li>\nStrengthens nVent\u2019s global growth opportunity<\/p>\n<\/li>\n<\/ul>\n<p>LONDON&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nnVent Electric plc (NYSE: NVT) (\u201cnVent\u201d), a global leader in electrical connection and protection solutions, today announced it has acquired TEXA Industries, which will operate within its Enclosures business segment.<\/p>\n<p>\nThe acquisition of TEXA Industries and its highly complementary portfolio strengthens nVent\u2019s position as a global systems provider. TEXA Industries provides advanced cooling technologies with innovative industrial air conditioners and chillers to help customers better solve for increasing heat loads when designing systems.<\/p>\n<p>\n\u201cWe are excited about the addition of TEXA Industries. Combined with our expertise in liquid cooling, this acquisition strengthens nVent\u2019s position and accelerates our ability to provide global cooling solutions in demanding environments, such as industrial automation and energy storage,\u201d said Alexander van der Weide, nVent HOFFMAN General Manager and Vice President.<\/p>\n<p>\nBased in Italy, TEXA Industries is a leading European provider of industrial cooling applications, including air conditioners and chillers, with approximately 90 employees.<\/p>\n<p>\nABOUT NVENT<\/p>\n<p>\nnVent 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&#8217;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 and our management office in the United States is in Minneapolis. Our robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER. Learn more at <span class=\"bwuline\"><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.nvent.com&amp;esheet=53446728&amp;newsitemid=20230710537074&amp;lan=en-US&amp;anchor=www.nvent.com&amp;index=1&amp;md5=c07ef4358ec870766bf30107e634e1c9\">www.nvent.com<\/a><\/span>.<\/p>\n<p>\nnVent, CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER are trademarks owned or licensed by nVent Services GmbH or its affiliates.<\/p>\n<p>\nCAUTION CONCERNING FORWARD-LOOKING STATEMENTS<\/p>\n<p>\nThis press release contains statements that we believe to be \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward looking statements. Without limitation, any statements preceded or followed by or that include the words \u201ctargets,\u201d \u201cplans,\u201d \u201cbelieves,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201cwill,\u201d \u201clikely,\u201d \u201cmay,\u201d \u201canticipates,\u201d \u201cestimates,\u201d \u201cprojects,\u201d \u201cforecasts,\u201d \u201cshould,\u201d \u201cwould,\u201d \u201cpositioned,\u201d \u201cstrategy,\u201d \u201cfuture,\u201d \u201care confident,\u201d or words, phrases or terms of similar substance or the negative thereof, are forward-looking statements. All statements made about the anticipated acquisition, the expected financial results of the acquired business and the anticipated benefits of the acquisition, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include our ability to integrate the acquisition successfully; our ability to retain customers and employees of the acquired business; adverse effects on our business operations or financial results, including due to the overall global economic and business conditions impacting our business; the ability to achieve the benefits of our restructuring plans; the ability to successfully identify, finance, complete and integrate acquisitions; competition and pricing pressures in the markets we serve, including the impacts of tariffs; volatility in currency exchange rates, interest rates and commodity prices; inability to generate savings from excellence in operations initiatives consisting of lean enterprise, supply management and cash flow practices; inability to mitigate material and other cost inflation; risks related to the availability of, and cost inflation in, supply chain inputs, including labor, raw materials, commodities, packaging and transportation; increased risks associated with operating foreign businesses, including risks associated with the conflict between Russia and Ukraine and related sanctions; the ability to deliver backlog and win future project work; failure of markets to accept new product introductions and enhancements; the impact of changes in laws and regulations, including those that limit U.S. tax benefits; the impact of the novel coronavirus 2019 (&#8220;COVID-19&#8221;) pandemic; the outcome of litigation and governmental proceedings; and the ability to achieve our long-term strategic operating goals. Additional information concerning these and other factors is contained in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. All forward-looking statements speak only as of the date of this press release. nVent assumes no obligation, and disclaims any obligation, to update the information contained in this press release.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230710537074r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230710537074\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230710537074\/en\/<\/a><\/span><\/p>\n<p><b>Investor Contact<br \/>\n<\/b><br \/>Tony Riter<br \/>\n<br \/>Vice President, Investor Relations<br \/>\n<br \/>nVent<br \/>\n<br \/>763.204.7750<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Tony.Riter@nVent.com\">Tony.Riter@nVent.com<\/a><\/p>\n<p><b>Media Contact<br \/>\n<\/b><br \/>Stacey Wempen<br \/>\n<br \/>Director, External Communications<br \/>\n<br \/>nVent<br \/>\n<br \/>763.204.7857<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Stacey.Wempen@nVent.com\">Stacey.Wempen@nVent.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Europe United States United Kingdom North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Telecommunications Other Manufacturing Electronic Design Automation Engineering Technology Semiconductor Manufacturing Mobile\/Wireless<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>nVent Acquires TEXA Industries Complements nVent\u2019s portfolio to protect critical electrical systems with expanded industrial air conditioners and chillers Enhances nVent\u2019s position with the electrification of everything in high-growth verticals, such as industrial automation and energy storage Strengthens nVent\u2019s global growth opportunity LONDON&#8211;(BUSINESS WIRE)&#8211; nVent Electric plc (NYSE: NVT) (\u201cnVent\u201d), a global leader in electrical connection and protection solutions, today announced it has acquired TEXA Industries, which will operate within its Enclosures business segment. The acquisition of TEXA Industries and its highly complementary portfolio strengthens nVent\u2019s position as a global systems provider. TEXA Industries provides advanced cooling technologies with innovative industrial air conditioners and chillers to help customers better solve for increasing heat loads when designing systems. \u201cWe are excited &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nvent-acquires-texa-industries\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;nVent Acquires TEXA Industries&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-768813","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>nVent Acquires TEXA Industries - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nvent-acquires-texa-industries\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"nVent Acquires TEXA Industries - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"nVent Acquires TEXA Industries Complements nVent\u2019s portfolio to protect critical electrical systems with expanded industrial air conditioners and chillers Enhances nVent\u2019s position with the electrification of everything in high-growth verticals, such as industrial automation and energy storage Strengthens nVent\u2019s global growth opportunity LONDON&#8211;(BUSINESS WIRE)&#8211; nVent Electric plc (NYSE: NVT) (\u201cnVent\u201d), a global leader in electrical connection and protection solutions, today announced it has acquired TEXA Industries, which will operate within its Enclosures business segment. The acquisition of TEXA Industries and its highly complementary portfolio strengthens nVent\u2019s position as a global systems provider. 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