# Brookfield completes $1.7B acquisition of nVent's Thermal Management Business

Funds managed by Brookfield Asset Management completed the acquisition of nVent Electric's Thermal Management Business, including RAYCHEM and TRACER brands, for $1.7 billion in cash. The deal was announced on July 31, 2024 and completed by January 29, 2025.

- Type: Acquisition
- Announced: 2025-01-29
- Where: United States
- Value: $1.70B
- Status: completed
- Products: thermal management systems, RAYCHEM, TRACER
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Brookfield Business Partners](https://endata.com/companies/2649.md) (acquirer)
- [Brookfield Asset Management](https://endata.com/companies/2655.md) (acquirer)
- [nVent Electric](https://endata.com/companies/12118.md) (partner)
- [nVent Electric](https://endata.com/companies/12118.md) (target)
- [Chemelex](https://endata.com/companies/82711.md) (target)

## Sources

- [ca.marketscreener.com](https://ca.marketscreener.com/quote/stock/BROOKFIELD-ASSET-MANAGEME-147562477/news/Funds-managed-by-Brookfield-Asset-Management-Ltd-completed-the-acquisition-of-Thermal-Management-Bu-48919411/), 2025-01-29: "Funds managed by Brookfield Asset Management Ltd. completed the acquisition of Thermal Management Business from nVent Electric plc for $1.7 billion."
- [rttnews.com](https://www.rttnews.com/3508470/brookfield-completes-acquisition-of-chemelex-from-nvent-electric.aspx), 2025-02-03: "Chemelex is a global market leader providing an essential product and service with extensive connectivity to the Brookfield ecosystem through its end markets."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.