Brookfield Business Partners, in conjunction with Brookfield Asset Management, announced the completion of its acquisition of Chemelex from nVent Electric Plc. The total purchase price for Chemelex was $1.7 billion. Brookfield Business Partners invested approximately $210 million to secure a 25% interest in the newly acquired business.
Chemelex is recognized as a global leader in the design and manufacturing of electric heat trace systems, which are specialized wiring systems used to regulate pipe temperatures in industrial plants and commercial buildings. The business benefits from high barriers to entry and strong brand recognition, having invented electric heat tracing in 1972.
This acquisition strategically enhances BBU's Industrials segment, connecting to the broader Brookfield ecosystem through its end markets. The company plans to leverage its deep expertise in industrials and corporate carve-outs to enhance Chemelex's operations and unlock its full potential as an independent entity.
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