Palladium Equity Partners, LLC, a middle market private equity firm, announced that it signed a definitive agreement to sell its majority interest in Trachte, LLC to an affiliate of nVent Electric plc for $695 million.
Trachte's engineered protection and control buildings with mission critical applications protect essential controls, equipment and infrastructure for electric utilities, data centers and other commercial and industrial customers.
“We are very grateful for Palladium’s partnership and support during which time our company experienced a significant period of growth and advanced its positioning in the market," Trachte CEO Shawn Smith said. "Palladium’s team brought a wealth of experience, knowledge and resources to Trachte, helping continue upon the tremendous legacy built by the Trachte family since 1901. We are thrilled to join nVent, which will bring additional resources to allow us to continue to serve our customers better.”
Palladium, which focuses on transforming family and founder-owned businesses, acquired its majority stake in Trachte in 2020.
Harris Williams LLC served as financial advisor to Trachte on the transaction. Baird served as advisor to the Board of Directors of Trachte. Morrison & Foerster, LLP served as legal advisor to Trachte.
