--- title: "nVent closed its $1.75 billion Maverick Power purchase; CEO Beth Wozniak had sold $7.6 million of stock" description: "nVent closed its $1.75 billion Maverick Power purchase with $800 million of 6.15% bonds and a $550 million earn-out that leaves the AI demand risk with the sellers. Its officers sold $23.8 million of stock on the way in, and the sell-side kept saying buy." publisher: "The Inference" section: "Deals" published: 2026-10-11T21:05:50.798Z modified: 2026-10-11T21:05:50.798Z canonical: https://theinference.org/article/nvent-closed-its-1-75-billion-maverick-power-purchase-ceo-beth-wozniak-had-sold-7-6-million-of-stock language: en keywords: "Data Centers, M&A, Electrification, Debt, Insider Selling, Power" --- # nVent closed its $1.75 billion Maverick Power purchase; CEO Beth Wozniak had sold $7.6 million of stock > nVent closed its $1.75 billion Maverick Power purchase with $800 million of 6.15% bonds and a $550 million earn-out that leaves the AI demand risk with the sellers. Its officers sold $23.8 million of stock on the way in, and the sell-side kept saying buy. ## The chief who bought the buildout and sold the stock Beth Wozniak, chair and chief executive of nVent, [closed the $1.75 billion purchase of Maverick Power on October 1](https://www.quiverquant.com/news/nVent+Completes+$1.75+Billion+Acquisition+of+Maverick+Power+to+Expand+Data+Center+Power+Distribution+Offerings): a 900-employee switchgear maker in McKinney, Texas, expected to book roughly $700 million of revenue this year [1][3]. In the six months before the close, Wozniak sold 46,261 of her own shares across four sales for about $7.6 million, and bought none [1]. ## The deal is paid for with 6.15% money The purchase price came from lenders. nVent [issued $800 million of 6.150% senior notes due 2036](https://www.theglobeandmail.com/investing/markets/stocks/NVT/pressreleases/4890123/nvent-electric-completes-senior-notes-offering-for-acquisition/) on September 29 through its Hoffman Schroff Holdings subsidiary, alongside a $600 million term loan and a $250 million revolver [2]. The bonds carried a 101% special mandatory redemption had the deal collapsed, and the coupon alone costs about $49 million a year [2]. Up to $550 million more goes to Maverick's sellers, but only if performance metrics land in 2027 and 2028 [1]. ## The closest hands took the cash out Insiders made 13 open-market sales in six months and not one purchase, about $23.8 million across the six named officers [1]. Millennium Management cut its stake 66% in the second quarter and PointState exited entirely [1]. The sell-side leaned the other way: [President Capital opened at Buy with a $198 target](https://www.marketscreener.com/news/president-capital-initiates-nvent-electric-at-buy-with-198-price-target-ce785dd8d088f623), and 19 analysts average $204.88 on a $167.17 stock [7]. ## The demand underneath is real Second-quarter revenue reached $1.471 billion, up 53%, on a $2.5 billion backlog, with [data center sales guided above $2 billion for 2026, more than double 2025](https://www.msn.com/en-us/money/economy/nvent-raises-2026-outlook-as-liquid-cooling-demand-accelerates/ar-AA299rPm) [5][6]. nVent entered the deal at just 1.2 times net leverage and paid 11.5 times Maverick's expected 2026 adjusted EBITDA [3][4]. *Chart: **Revenue doubled past the debt load just as nVent borrowed for Maverick** Line chart of nVent quarterly revenue and total debt in billions of dollars from Q3 2023 to Q2 2026, showing revenue rising past the declining debt load just before the Maverick financing lands.* *Quarterly revenue and total debt in USD billions from nVent's SEC filings, Q3 2023 through Q2 2026. [8]* ## The bull case rests on numbers nobody has seen Sixty-eight hedge funds held the stock at the end of June, up from 60, with Jennison, T. Rowe Price and Sixth Street adding [1][4], and management raised full-year profit guidance in July [5]. But [nVent never disclosed the revenue or EBITDA thresholds behind the $550 million earn-out](https://www.insidermonkey.com/blog/nvent-nvt-could-pay-approximately-2-3b-for-maverick-power-is-the-data-center-expansion-worth-the-price-1822649/) [4]. [Zacks rates the stock a Sell at 27.55 times forward earnings](https://www.theglobeandmail.com/investing/markets/stocks/NVT/pressreleases/5397611/nvent-electric-stock-rises-61-ytd-time-to-hold-or-book-profits/) against an industry at 22.69, with tariffs guided to $100 million this year [6]. ## Watch the filings, not the price targets The third-quarter report, due within weeks, is the first order read since the close, and the fourth quarter is the first to carry Maverick. The tell is twofold: whether any insider buys a share, and whether the earn-out metrics surface. Until they do, the only parties contractually obliged to believe in the AI power buildout are the people who just sold Maverick Power. ## Takeaway nVent paid 11.5 times EBITDA for Maverick Power with $1.4 billion of new debt while its officers sold $23.8 million of stock and the earn-out's targets stay undisclosed; the third-quarter report and any insider buy are the tells. ## Sources 1. [Quiver Quantitative, nVent Completes $1.75 Billion Acquisition of Maverick Power to Expand Data Center Power Distribution Offerings, 1 October 2026](https://www.quiverquant.com/news/nVent+Completes+$1.75+Billion+Acquisition+of+Maverick+Power+to+Expand+Data+Center+Power+Distribution+Offerings) 2. [TipRanks via The Globe and Mail, nVent Electric Completes Senior Notes Offering for Acquisition, 30 September 2026](https://www.theglobeandmail.com/investing/markets/stocks/NVT/pressreleases/4890123/nvent-electric-completes-senior-notes-offering-for-acquisition/) 3. [Pulse 2.0, nVent To Acquire Maverick Power For Up To $2.3 Billion To Expand Data Center Power Infrastructure Platform, 24 August 2026](https://pulse2.com/nvent-to-acquire-maverick-power-for-up-to-2-3-billion-to-expand-data-center-power-infrastructure-platform/) 4. [Insider Monkey, Jeff Lewis, nVent (NVT) Could Pay Approximately $2.3B for Maverick Power. Is the Data Center Expansion Worth the Price?, 27 August 2026](https://www.insidermonkey.com/blog/nvent-nvt-could-pay-approximately-2-3b-for-maverick-power-is-the-data-center-expansion-worth-the-price-1822649/) 5. [Benzinga, nVent raises 2026 outlook as liquid cooling demand accelerates, 31 July 2026](https://www.msn.com/en-us/money/economy/nvent-raises-2026-outlook-as-liquid-cooling-demand-accelerates/ar-AA299rPm) 6. [Zacks Investment Research via The Globe and Mail, nVent Electric Stock Rises 61% YTD: Time to Hold or Book Profits?, 9 October 2026](https://www.theglobeandmail.com/investing/markets/stocks/NVT/pressreleases/5397611/nvent-electric-stock-rises-61-ytd-time-to-hold-or-book-profits/) 7. [MarketScreener, President Capital Initiates nVent Electric at Buy With $198 Price Target, 6 October 2026](https://www.marketscreener.com/news/president-capital-initiates-nvent-electric-at-buy-with-198-price-target-ce785dd8d088f623) 8. [nVent Electric, quarterly figures from its SEC filings, retrieved 11 October 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001720635) --- nVent closed its $1.75 billion Maverick Power purchase; CEO Beth Wozniak had sold $7.6 million of stock — The Inference. Canonical: https://theinference.org/article/nvent-closed-its-1-75-billion-maverick-power-purchase-ceo-beth-wozniak-had-sold-7-6-million-of-stock