Brookfield Business Partners, along with its listed affiliate Brookfield Business Corporation (BBUC), announced the completion of the acquisition of Chemelex from nVent Electric Plc for a purchase price of $1.7 billion. Chemelex is recognized as a global leader in the design and manufacturing of electric heat trace systems.
This acquisition strengthens Brookfield's industrials portfolio by adding a business with high barriers to entry and strong brand recognition. Chemelex's products are essential for regulating pipe temperatures in industrial plants and commercial buildings, serving diverse markets including traditional and clean energy.
Brookfield Business Partners invested approximately $210 million for a 25% interest in Chemelex, with the balance of the $830 million equity funding provided by institutional partners. This investment aligns with Brookfield's strategy of acquiring and enhancing high-quality businesses with strong market positions.
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