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Hubbell 8-K Report, Material Agreement (Oct 1, 2025)

Reports
Material Agreements·Financial Events·Regulation FD+2
Filing Date
Filed October 1, 2025
Period End
September 29, 2025
Security
HUBB
In the record · 2016–202610-K1110-Q338-K110

HUBB filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 110 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Feb ’18Feb ’18
  2. Leadership change8-K · Sep ’22Sep ’22
  3. Leadership change8-K · Nov ’24Nov ’24

01—Abstract

Summary

Summary of the 8-K filed October 1, 2025. Cited figures are marked; the original filing is the authoritative source.

Hubbell Incorporated (NYSE: HUBB) reported in a Form 8-K dated October 1, 2025 that it completed its acquisition of DMC Power, which the filing describes as a provider of connectors and tooling for utility substation and transmission markets.

Hubbell, through its subsidiary Hubbell Power Systems, Inc., purchased all outstanding capital stock of Power Rose Acquisition, Inc. (DMC Power) from Power Rose Topco, L.P. for $825,000,000a in cash, subject to a customary working capital adjustment. The purchase price was funded through a combination of commercial paper issuances and borrowings under a new term loan. To finance the deal, Hubbell entered into a Term Loan Agreement dated September 29, 2025 with a syndicate of lenders and JPMorgan Chase Bank, N.A. as administrative agent.

The facility allows borrowings of up to $600 millionb on an unsecured basis, and Hubbell borrowed the full $600 million on the closing date. The loans mature on September 29, 2028, bear interest based on Term SOFR plus an applicable interest addition tied to Hubbell's credit ratings, and include a financial covenant requiring the ratio of total indebtedness to total capitalization to not exceed 65% at each fiscal quarter-end. Event-of-default triggers include cross-defaults on other debt exceeding $100 million and a change of control of Hubbell.

The press release furnished as Exhibit 99.1 describes DMC Power as a designer and manufacturer of connector technology systems for high voltage power infrastructure, with over 350 employees and two manufacturing facilities in Carson, CA and Olive Branch, MS. The release states that Hubbell had 2024 revenues of $5.6 billionc. The filing does not report DMC Power's revenues or earnings.

02—Key points

Key Highlights

  1. Hubbell completed the acquisition of DMC Power on October 1, 2025 for $825,000,000 in cash, subject to a customary working capital adjustment.
  2. The purchase was funded with commercial paper issuances and a $600 million borrowing under a new unsecured Term Loan Agreement.
  3. The Term Loan Agreement, dated September 29, 2025 with JPMorgan Chase Bank, N.A. as administrative agent, matures September 29, 2028 and bears interest at Term SOFR plus a credit-rating-based interest addition.
  4. The term loan includes a financial covenant limiting the ratio of total indebtedness to total capitalization to 65% or less at each fiscal quarter-end.
  5. Events of default include failure to pay other debt obligations exceeding $100 million and a change of control of Hubbell, which could allow lenders to accelerate the loans.
  6. DMC Power is described as a designer and manufacturer of connector technology systems for high voltage power infrastructure, with over 350 employees and two manufacturing facilities in Carson, CA and Olive Branch, MS.
  7. Hubbell reported 2024 revenues of $5.6 billion, per the accompanying press release.

03—Questions

Frequently Asked Questions

  1. What did Hubbell acquire and for how much?

    Hubbell, through its subsidiary Hubbell Power Systems, Inc., acquired all outstanding capital stock of Power Rose Acquisition, Inc. (DMC Power) from Power Rose Topco, L.P. for $825,000,000 in cash, subject to a customary working capital adjustment.

  2. How is Hubbell financing the DMC Power acquisition?

    The purchase price was paid using a combination of commercial paper issuances and borrowings under a new Term Loan Agreement. Hubbell borrowed the full $600 million available under the term loan on the closing date.

  3. What are the key terms of the new term loan?

    The unsecured term loan, dated September 29, 2025, matures on September 29, 2028 and bears interest based on Term SOFR plus an applicable interest addition based on Hubbell's credit ratings. It requires the ratio of total indebtedness to total capitalization to be no greater than 65% at each fiscal quarter-end.

  4. What events could trigger a default under the term loan?

    Events of default may include failure to pay principal when due, failure to comply with certain covenants, failure to pay or acceleration of other debt obligations exceeding $100 million, or a change of control of Hubbell. A default would permit lenders to accelerate outstanding loans.

  5. What does DMC Power do?

    According to the press release, DMC Power is a designer and manufacturer of connector technology systems for high voltage power infrastructure. It has over 350 employees, two manufacturing facilities in Carson, CA and Olive Branch, MS, and multiple distribution facilities across North America.

04—Continue

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