Hubbell to Acquire DMC Power Inc. for $830 Million

Hubbell Inc. entered into an agreement to acquire Carson-based DMC Power Inc. from Golden Gate Capital and Tony Ward for approximately $830 million, which includes a cash consideration of $825 million. Hubbell plans to finance the transaction with a combination of cash on hand and debt. The transaction is expected to close by year-end.

“As the pioneers behind swage technology for utilities, we are proud to have developed a world-class solution that is transforming the industry. By joining forces with Hubbell, we are confident that swage will accelerate its industry adoption and that our customers will continue to receive the high-quality service and solutions they have come to expect from DMC,” said Tony Ward, DMC Power chief executive, in a statement.

DMC Power is a designer and manufacturer of connector technology systems for high voltage power infrastructure with over 350 employees and two manufacturing facilities in Carson and Olive Branch, Mississipppi, along with multiple distribution facilities located across North America. DMC Power anticipates 2026 revenue of approximately $130 million.

Stephens Inc. acted as financial advisor for Hubbell Inc. Holland & Knight LLP acted as legal advisor for Hubbell Inc. Harris Williams LLC acted as financial advisor for Golden Gate Capital. Lincoln International LLC acted as financial advisor for Golden Gate Capital, and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor for Golden Gate Capital.

Information for this article was sourced from Golden Gate Capital.