Hubbell Completes $3 Billion Acquisition of NSI Industries
The deal expands Hubbell’s Electrical Solutions portfolio with complementary products for industrial, datacenter and network infrastructure markets.
**Hubbell Incorporated (HUBB) completed its acquisition of NSI Industries**, a leading provider of electrical fittings, connectors, components and wire management products, in a transaction valued at $3.0 billion. The deal was financed through a combination of cash on hand, $1.9 billion in senior notes, and commercial paper issuances.
The purchase price reflects approximately 15.5 times NSI’s anticipated 2026 EBITDA, according to Hubbell. The company expects the acquisition to be accretive to adjusted earnings per share in 2026, with synergies driven by cross-selling opportunities and manufacturing efficiencies. The transaction closed in mid-2026, following receipt of required regulatory approvals.
Hubbell framed the acquisition as a strategic fit for its Electrical Solutions portfolio, citing NSI’s complementary product offerings and strong organic growth in high-demand verticals such as light industrial, datacenter and network infrastructure. "We are excited to add a high growth business in NSI to Hubbell’s Electrical Solutions portfolio," said Gerben Bakker, Chairman, President and CEO of Hubbell. "As electrification megatrends drive attractive growth across the electrical industry over the next several years, NSI offers highly complementary products and industry-leading brands to our HES portfolio across strategic growth verticals." Mark Mikes, President of Hubbell Electrical Solutions, added that NSI’s operating margins are expected to be accretive to the segment, aligning with Hubbell’s strategy to unify and accelerate growth within its core businesses.
NSI, a portfolio company of Sentinel Capital Partners, anticipates 2026 revenue of approximately $570 million. The company serves industrial, infrastructure and commercial end markets, with products that enhance Hubbell’s existing portfolio of critical infrastructure solutions. The acquisition follows Hubbell’s 2025 purchase of DMC Power, a designer and manufacturer of connector technology systems for high-voltage power infrastructure, signaling a broader push to consolidate its position in electrical and utility solutions.
The deal mirrors Hubbell’s recent pattern of bolt-on acquisitions to expand its product offerings and market reach. In 2025, the company acquired DMC Power for $600 million, financed through a term loan and commercial paper, further strengthening its high-voltage infrastructure capabilities. Like NSI, DMC Power was integrated into Hubbell’s Electrical Solutions segment, reinforcing the company’s focus on accretive, synergistic deals.
Looking ahead, Hubbell plans to integrate NSI into its operations while maintaining its financial discipline, including a commitment to adjusted EPS accretion in 2026. The company secured fully committed bridge financing from JPMorgan Chase Bank, Bank of America, and HSBC Bank USA to support the transaction, with proceeds from the senior notes offering earmarked for the acquisition, debt repayment, and related costs.