nVent Electric plc (2018 – Present)

nVent Electric plc (“nVent”) is a global provider in electrical connection and protection solutions. nVent trades on the New York Stock Exchange under the symbol “NVT.” nVent was created as a result of a tax free spin-off from Pentair plc, another Trian portfolio company, and became a standalone publicly-traded company on April 30, 2018.

nVent has a leading portfolio of electrical enclosures, electric heat tracing solutions, complete heat management systems, and electrical and fastening solutions that connect and protect critical systems across the globe where the cost of failure is high. Its innovative electrical solutions help maximize customer efficiency, improve utilization, lower installation costs as well as the total cost of ownership and minimize downtime.

Following the spinoff, Trian Partner Brian Baldwin joined the Board of nVent. Trian looks forward to continuing to work with the nVent leadership team to generate sustained profitable growth.

Sector: Industrial

Fun Fact: On July 21, 1999, one of Auckland New Zealand’s greatest tourist attractions, the Sky Tower which is 328 tall with 360-degree views of the city, was hit by 16 fierce lightning strikes. The Sky Tower was equipped with nVent’s ERICO DYNASPHERE which successfully captured and safely diverted all 16 strikes.

Company Website: https://www.nvent.com

ESG Highlights:

  • Favorable ISS Governance ScoreReceived a 2 on ISS’s QualityScore metric for Governance (as of May 16, 2019), the second-highest possible score (on a scale of 10, best-worst)
  • Environmental Treasure HuntSolicit and implement local improvement ideas at manufacturing facilities around the world. Team in Anoka, Minnesota identified large electricity savings by swapping High Intensity Discharge lighting systems for fluorescent lighting, resulting in savings of 2.5 million kWh annually or $200,000
  • Combatting Climate ChangenVent products provide support and protection to critical infrastructure. Enclosures protect sensitive data center equipment, heat trace cables keep ice and snow off of railways and pipelines and seismic braking systems protect buildings in earthquake-prone regions
  • Sustainability nVent has combined renewable energy solutions like solar and wind power with smart conservation measures to drive reductions in energy use. nVent reuses water within its manufacturing operations and reduces the company’s overall water footprint, and nVent’s materials management process is helping meet goals tied to Zero Waste to Landfill operations. In 2017, 97% of nVent’s waste from manufacturing was diverted
  • Energy EfficiencyRaychem heating technology is being utilized in skyscrapers for efficient hot water design and instant hot water on every floor
  • Rail SafetyWith over 100 million connections installed globally, ERICO Cadweld is an industry leader in exothermic welding solutions that keep trains running safely and on time
  • Lean ManufacturingDisciplined manufacturing process maximizes use of inputs and aims to minimize waste by products
  • Director IndependenceAs of August 2018, eight out of ten directors are independent outside of the CEO and non-executive Chairman

Trian Board Member