Benzinga | Jul 1, 2021 02:00PM EDT

Guardian Capital Partners Sells CIS Global to nVent Electric

nVent Electric plc (NYSE:NVT) ("nVent"), a global leader in electrical connection and protection solutions, has acquired CIS Global LLC ("CIS" or the "Company"), a portfolio company investment of Guardian Capital Partners ("Guardian"). The transaction was a cash purchase price of approximately $200 million.

Headquartered in Tucson, Arizona, CIS Global is a leading provider of mission-critical power distribution units ("PDU") and server rack slides to the rapidly growing data center and networking industries. The Company employs approximately 850 individuals and operates globally, with production facilities in China, India, Thailand, and the United States. CIS' product portfolio includes a full range of basic and intelligent network managed PDU solutions that are highly configurable to meet the needs of nearly every IT application. Additionally, the Company offers highly engineered rack mount technologies that are utilized by leading server OEMs. For more information, visit www.cisww.com.

Scott Evans, Founding Partner at Guardian, stated, "During Guardian's ownership, the Company invested to expand beyond its server rack slides offering to include intelligent power distribution unit ("iPDU") capabilities, becoming the largest independent provider of server rack power distribution units globally. The Company is well positioned to meet the increasing demand for data center products and solutions. I am proud of the exceptional performance of the management team and look forward to seeing the Company's future success under the ownership of nVent."

Gerald Birin, CEO of CIS Global, said, "With Guardian's help, we achieved significant and diversified growth across all aspects of the business, expanding international operations, adding product capabilities, and further penetrating key customers. Because of the strategic partnership with Guardian and the execution of a high-quality executive team, we are a scalable, high performing business serving a growing data center market."

The law firm Seyfarth Shaw LLP advised Guardian and the Company, and Lincoln International LLC acted as CIS Global's exclusive financial advisor. Foley & Lardner provided legal advice for nVent. For more information about the transaction, contact Scott Evans at Guardian Capital Partners at sevans@guardiancp.com.