Hubbell Incorporated entered into a definitive agreement to acquire NSI Industries, a portfolio company of Sentinel Capital Partners, for $3.0 billion in cash. The deal, announced on May 4, 2026, will add NSI’s extensive line of electrical fittings, connectors, components and wire‑management products to Hubbell’s Electrical Solutions segment and is expected to close in mid‑2026 after customary regulatory approvals and closing conditions are met.
The acquisition broadens Hubbell’s product offering across light‑industrial, data‑center and network‑infrastructure markets, aligning with the company’s strategy to deepen its presence in high‑growth verticals. NSI’s 2026 revenue is projected at approximately $570 million, and the transaction represents a TEV/EBITDA multiple of 15.5×, underscoring the premium Hubbell is paying for a high‑margin, high‑growth business.
Management highlighted the strategic fit and financial upside. “We are excited to add a high‑growth business in NSI to Hubbell’s Electrical Solutions portfolio,” said Gerben Bakker, Chairman, President and CEO. “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 including light industrial, datacenter and network infrastructure applications.” Mark Mikes, President of Hubbell Electrical Solutions, added, “NSI has demonstrated strong organic growth in line with higher growth areas of our HES portfolio over the last several years, and its operating margins are expected to be accretive to the segment.”
The acquisition is expected to be accretive to Hubbell’s adjusted earnings per share in 2026. The deal will also create cross‑selling opportunities and manufacturing efficiencies that should accelerate margin expansion. Hubbell will finance the purchase with a mix of cash on hand and debt, and has secured bridge financing from JPMorgan Chase, Bank of America and HSBC to support the transaction. The combination is positioned to drive long‑term revenue and margin growth for Hubbell’s Electrical Solutions segment.
The transaction reflects Hubbell’s broader growth strategy, which has included recent acquisitions such as DMC Power. By adding NSI’s high‑margin product portfolio, Hubbell strengthens its competitive position in electrification, data‑center, and industrial markets, and enhances its ability to serve core electrical and utility customers with a more comprehensive solution set.
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