Pentair announces new electrical company: nVent 

  Posted by: electime      25th October 2017

Pentair has unveiled the name of its future electrical company as nVent Electric plc (“nVent”) and announced part of its key team.

Beth A. Wozniak, who will become chief executive officer of nVent upon completion of the separation said, the name ‘nVent’ reflects the legacy of innovation across the portfolio of brands.

She said: “As a high-performance electrical company, nVent is focused on improving utilisation, lowering costs and maximizing customer uptime.”

Joining Ms. Wozniak on the nVent leadership team will be Stacy McMahan as chief financial officer.  Randall J. Hogan will serve as Chairman of nVent and retire as Pentair’s Chairman and CEO upon the separation.

nVent will employ approximately 9,000 people globally, with its main U.S. offices in Minneapolis, Minnesota. nVent will have industry-leading positions in industrial, commercial, residential, energy and infrastructure.

Brand names for nVent’s offering include CADDY, ERICO, Hoffman, Raychem, Schroff and Tracer. nVent’s revenues for the year ended December 31, 2016 were $2.1 billion.