About nVent Electric
nVent Electric plc (nVent) operates as a global provider of electrical connection and protection solutions. The company connects and protects with inventive electrical solutions. The company designs, manufactures, markets, installs and services high performance products and solutions that are helping to build a more sustainable and electrified world. The company has a comprehensive portfolio of enclosures, electrical fastening solutions and thermal management solutions. The company’s broad range of products and solutions support industrial, commercial and residential, infrastructure, and energy applications around the world. The company’s solutions help its customers improve energy efficiency, ensure resiliency and protection, increase customer productivity, design for extended lifespan and serviceability, enhance safety and contribute to more sustainable operations. The company’s portfolio of premier, industry-leading brands includes nVent CADDY, ERICO, GARDNER BENDER, HOFFMAN, ILSCO, RAYCHEM, SCHROFF and TRACER. Business and Products At nVent, the company operates across three segments: Enclosures, Electrical & Fastening Solutions and Thermal Management. The company’s products and solutions are used in a wide range of verticals, including Industrial, Commercial & Residential, Infrastructure and Energy. The following is a brief description of each of the company’s reportable segments and business activities. Enclosures The company’s Enclosures business provides solutions to help protect electronics and data in mission critical applications, including data solutions, that improve reliability and energy efficiency. The company is an enclosures leader in the U.S. and globally. Trends like industrial automation, sustainability and digitalization, including increased use of artificial intelligence, are helping to drive the need for the company’s products. The company’s standard and custom protective enclosures, cooling solutions and power distribution solutions help manage power and protect operating environments for mission critical applications. The company’s solutions help make systems more resilient, helping avoid downtime. The company sells globally but serve locally with local manufacturing and regional supply chains. The company offers digital and automation solutions, easy system integrations and global service. The company’s solutions are deployed by panel builders, original equipment manufacturers and directly by other end users across key verticals, including large cloud service providers. The company’s Enclosures brands include nVent HOFFMAN and SCHROFF. Electrical & Fastening Solutions The company’s Electrical & Fastening Solutions business provides solutions that connect and protect in power and data infrastructure. The company’s offerings enhance end-user safety, reduce installation time and provide resiliency for critical systems. The company is a leading global electrical and fastening solutions provider known for industry expertise and innovation. The company’s power connections, fastening solutions, cable management solutions, grounding and bonding systems, tools and test instruments help provide efficiencies to contractors and provide resiliency for critical systems. The company has deep application expertise across its products and verticals the company serves. The company’s products and solutions are primarily used by contractors, electrical utilities, electricians, lightening protection installers and panel builders. The company’s Electrical & Fastening Solutions brands include nVent CADDY, ERICO, GARDNER BENDER and ILSCO. Thermal Management The company’s Thermal Management business provides mission critical heat management solutions that protect people and assets and enhance process efficiency and performance. The company’s offerings help ensure critical safety, maximize uptime and deliver lower total cost of ownership. The company is a global leader in thermal management solutions with a large installed base. For industrial and energy, the company’s products and solutions include heat tracing for freeze protection and process temperature maintenance and temperature control. For commercial, residential and infrastructure, the company provides products, such as pipe freeze protection, surface deicing, hot water temperature maintenance, floor heating, fire rated wiring and leak detection. The company offers services and advanced engineering tools to complement the company’s solutions, and its design and after-sales services help to extend the lifespan of the company’s products. These services include auditing heat trace systems, connected controls, remote monitoring and annual service programs. The company’s products and solutions are primarily deployed by building owners, facility managers, operators and other end users across key verticals. The company’s Thermal Management brands include nVent RAYCHEM and TRACER. Seasonality The company generally experiences increased demand for Electrical & Fastening Solutions products during the spring and summer months in the Northern Hemisphere and increased demand for Thermal Management products and services during the fall and winter months in the Northern Hemisphere. A substantial portion of the company’s revenues result from orders received and products delivered in the same month. Captive Insurance Subsidiary The company insures certain general and product liability, property, workers' compensation and automobile liability risks through the company’s regulated wholly-owned captive insurance subsidiary, Tonka Bay Insurance Company (‘Tonka Bay’). History nVent Electric plc was founded in 1903. The company was incorporated under the laws of Ireland in 2017.