Hubbell agrees to acquire DMC Power for $825 million

Connector technology for utility infrastructure

Hubbell Incorporated has entered into a definitive agreement to acquire DMC Power, LLC, a portfolio company of Golden Gate Capital, for $825 million in cash, subject to customary adjustments. The proposed acquisition would add connector and tooling technology for utility substation and transmission markets to Hubbell’s Utility Solutions portfolio. Hubbell announced the agreement on Aug. 12, 2025. The transaction remains subject to customary closing conditions, including required regulatory approvals.

DMC Power designs and manufactures connector technology systems for high-voltage power infrastructure. The business has more than 350 employees and two manufacturing facilities, located in Carson, California, and Olive Branch, Mississippi. Multiple distribution facilities serve customers across North America. Its products address connections in transmission, distribution, substation and industrial projects. The acquisition would bring that product range and operating footprint into Hubbell’s utility business.

Products and planned financing

DMC Power’s Swage system combines custom-designed Power Connectors with a patented 360-degree Radial Swage Tool. Hubbell considers the technology complementary to its existing substation and transmission connector solutions. The company associates the planned acquisition with investment demand related to electrical load growth, data-center interconnections and aging infrastructure. These are the company’s strategic expectations for the proposed combination. DMC Power’s principal business and operating resources include:

• Connector systems and tooling for high-voltage infrastructure.
• Manufacturing operations in California and Mississippi.
• A North American distribution network and a workforce exceeding 350 people.

Hubbell plans to finance the purchase through a combination of cash on hand and debt. The company anticipates closing the transaction by the end of 2025, provided the applicable closing conditions are satisfied. The $825 million consideration is subject to customary adjustments. Stephens Inc. is serving as Hubbell’s financial advisor, while Holland & Knight LLP is its legal advisor. The announced financing and closing timetable concern the proposed transaction rather than a completed acquisition.

Company forecasts and business profile

DMC Power anticipates approximately $130 million in revenue and approximately $60 million in EBITDA for 2026. Hubbell expects the acquisition to increase adjusted earnings per share in 2026. These figures and expectations are forward-looking. EBITDA and adjusted earnings per share are non-GAAP measures; EBITDA represents net income or loss before interest expense, income taxes, depreciation and amortization. The forecasts are not reported 2026 results, and the anticipated benefits depend on completion and integration of the transaction.

Hubbell manufactures utility and electrical solutions for critical infrastructure. The company generated $5.6 billion in revenue in 2024 and maintains its corporate headquarters in Shelton, Connecticut. The proposed DMC Power acquisition would expand its offering in substation and transmission connections. Hubbell’s existing business profile and DMC Power’s product specialisation provide the context for the planned addition to Utility Solutions, with the transaction’s completion still conditional on the stated approvals and other closing requirements.

Company contact

Hubbell Incorporated
Dan Innamorato
40 Waterview Drive
P.O. Box 1000
Shelton, CT 06484
Telephone: (475) 882-4000

Website: https://www.hubbell.com/