Hubbell to Acquire DMC Power

Hubbell Incorporated has entered a definitive agreement to acquire DMC Power, LLC for US$825 million in cash. The transaction, which is subject to customary adjustments, will add a provider of connectors and tooling for utility substations and transmission markets to Hubbell's portfolio.

The acquisition is expected to enhance Hubbell’s Utility Solutions portfolio with complementary technology.  DMC Power's swage connection system will complement Hubbell's existing substation and transmission connector solutions. The acquisition is aligned with market trends such as load growth, datacenter interconnection, and aging infrastructure.

According to Hubbell Chairman, President, and CEO Gerben Bakker, the acquisition of DMC Power expands Hubbell’s presence in these markets. Greg Gumbs, President, Hubbell Utility Solutions, stated that the acquisition will deepen and broaden the company's technology offerings to core customers. This will enable the buildout of substation infrastructure and datacenter interconnections, accelerating growth for Hubbell.

The transaction is expected to close by the end of 2025, pending regulatory approvals and other customary closing conditions. Hubbell plans to finance the acquisition using a combination of cash on hand and debt. The company anticipates the acquisition will be accretive to adjusted earnings per share (EPS) in 2026.