WASHINGTON (dpa-AFX) - Hubbell, Inc. (HUBB) announced Tuesday it has entered into a definitive agreement to acquire DMC Power, LLC, a portfolio company of Golden Gate Capital and a provider of connectors and tooling for utility substation and transmission markets, for $825 million in cash, subject to customary adjustments.
The proposed acquisition will be a complementary technology enhancement to Hubbell's Utility Solutions portfolio with attractive growth and margin profile aligned to megatrends in load growth, datacenter interconnection and aging infrastructure.
DMC Power is a designer and manufacturer of connector technology systems for high voltage power infrastructure with over 350 employees and two manufacturing facilities in Carson, CA and Olive Branch, MS, along with multiple distribution facilities located across North America.
The transaction is anticipated to close by the end of 2025, subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals.
Hubbell plans to finance the transaction with a combination of cash on hand and debt. The company expects the acquisition to be accretive to adjusted earnings per share in 2026. DMC Power anticipates 2026 revenue of approximately $130 million.
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