nVent acquires Eldon Group
SANDS has acted as Norwegian counsel to the owners of Eldon Holding AB on sale of the Eldon Group to nVent Electric plc, valuing Eldon at USD 130 million on a cash and debt free basis. Eldon is an innovative, customer-focused business with a high-quality portfolio of electrical enclosure solutions and annual sales of approximately USD 90 million.
nVent is a global leader in electrical connection and protection solutions with main offices in London listed on NYSE. nVent employs some 9,000 people around the world. The combination of the nVent and Eldon product portfolios, including combined marketing, sales and operational capabilities, will form a strong market position which is expected to provide an excellent basis for accelerating global growth. For further information regarding the transaction please see Eldon Group’s global website.
SANDS’ team consisted of Ylva Cornelia Axelsen, Terje Gulbrandsen and Sonja Lorentzen.