Eldon announced today that nVent, a global leader in electrical connection and protection solutions, has signed an agreement to acquire Eldon.
nVent’s main offices are in London, UK. Its management offices in the US are in Minneapolis, Minnesota, with brands such as CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF, and TRACER. nVent employs some 9,000 people around the world.
The electrical enclosure brand of nVent, nVent HOFFMAN, and Eldon complement each other very well. Eldon has a strong presence in Europe and a modern, comprehensive range of electrical enclosures. nVent has a strong base with the nVent HOFFMAN brand in North America, and good coverage in Latin America and Asia.
The two companies together will be very well positioned to support global customers thanks to a global manufacturing footprint and a high-quality, competitive range of IEC enclosures.
The combination of nVent HOFFMAN and Eldon product portfolios, plus combined marketing, extensive sales coverage and operational capabilities is expected to provide a transformational opportunity for nVent to accelerate growth globally.
“Eldon will be a great addition to nVent, positioning us for the rapid growth of our enclosure business into Europe, while also allowing us to meet a stated need of some of our large, global customers – the ability to buy enclosures that meet their design requirements and quality standards from a company with manufacturing capabilities around the world,” said Beth Wozniak, nVent CEO.
“Eldon’s vision is to become a global enclosure manufacturer and serve customers throughout all continents. Achieving such a challenging vision on our own would have been possible but would have taken quite some time. By joining forces with nVent, we will realize our vision much faster. Together we can speed up research and development, drive digitalization efforts and offer an extensive product portfolio,” said Eldon’s CRO, Alexander van der Weide.
For more details, please view Eldon’s announcement video that elaborates on the great opportunities that now lay ahead for the venture and all its stakeholders.
Pending regulatory approval, nVent expects the transaction to close in 2019. Until then, nVent, with its HOFFMAN brand, and Eldon will continue operating as independent companies.
For any further information, please contact Alexander van der Weide, Eldon’s CRO, firstname.lastname@example.org or +34 646 566 210.