AZZ(AZZ) Prnewswire·2025-03-10 16:00Core Viewpoint - AZZ Inc. announced the sale of Avail Infrastructure Solutions' Electrical Products Group to nVent Electric plc for $975 million, reflecting a 12.5 times multiple on the anticipated EBITDA [1][3]. Group 1: Transaction Details - The transaction involves the sale of electrical enclosures, switchgear, and bus systems businesses [1]. - AZZ retains a 40% interest in AVAIL, which will now focus on Industrial Lighting and Welding Solutions, representing approximately 30% of pre-transaction group revenue [2]. - The deal is expected to close in the first half of 2025, pending customary closing conditions [1]. Group 2: Management Commentary - AZZ's CEO highlighted that the divestiture aligns with the company's strategy to focus on metal coating solutions and will generate cash for debt reduction or potential M&A activities [3]. - Fernweh Group's CEO expressed confidence in nVent as the right owner for the Electrical Products Group, emphasizing nVent's strength in the electrical infrastructure market [4]. Group 3: Company Background - AZZ Inc. is a global provider of metal coating solutions, including galvanizing and welding solutions, serving various markets such as power generation and industrial sectors [5]. - Fernweh Group LLC is an investment firm focused on mid- and small-cap industrial sectors, aiming to create value through operational transformation and strategic support [6].