How much is Hubbell paying for NSI Industries, and how will it be funded?

Hubbell agreed to pay an aggregate purchase price of $3.0 billion in cash, subject to customary adjustments. Hubbell anticipates financing the transaction with a combination of cash-on-hand and debt, and has obtained a commitment for up to $2.8 billion of senior unsecured bridge loans.

When is the acquisition expected to close, and what could prevent it?

The press release anticipates closing in mid-2026. Closing is subject to customary conditions, including expiration or termination of the Hart-Scott-Rodino waiting period, accuracy of representations and warranties, compliance with covenants, and the absence of a Material Adverse Effect. The closing will not occur before May 31, 2026 without Hubbell's consent.

What termination rights and fees apply to the agreement?

Either party may terminate if closing has not occurred by the Outside Date, which is eight months after signing and extendable under certain circumstances up to the one-year anniversary. Termination is also permitted if a permanent injunction or prohibition is in place or if the other party's uncured breach prevents a closing condition from being satisfied. If the agreement is terminated for failure to obtain antitrust approvals under specified circumstances, Hubbell must pay Seller a $150 million termination fee.

What does Hubbell expect from the acquisition financially?

Hubbell expects the acquisition to be accretive to adjusted EPS in 2026 and to be accretive to Hubbell and HES adjusted operating margins and long-term organic growth. NSI anticipates 2026 revenue of approximately $570 million, and the purchase price represents about 15.5x anticipated 2026 EBITDA.

HUBB 8-K: Material Agreements & Regulation FD

01—Abstract

Summary

Summary of the 8-K filed May 4, 2026. Cited figures are marked; the original filing is the authoritative source.

Hubbell Incorporated (NYSE: HUBB) has entered into a Stock Purchase Agreement, dated May 1, 2026, to acquire NSI Industries, a provider of electrical fittings, connectors, components and wire management products serving industrial, infrastructure and commercial markets.

The purchase price is $3.0 billion^a in cash, subject to customary adjustments for cash, indebtedness, working capital and transaction expenses. Hubbell anticipates financing the deal with a combination of cash-on-hand and debt, and it has entered into a commitment letter for up to $2.8 billion of senior unsecured bridge loans. The transaction is subject to customary conditions, including expiration or termination of the Hart-Scott-Rodino waiting period, and the closing will not occur before May 31, 2026 without Hubbell's consent.

The agreement includes an Outside Date of eight months after signing, extendable under certain circumstances up to the one-year anniversary. If the deal is terminated for failure to obtain antitrust approvals under specified circumstances, Hubbell must pay Seller a $150 million^b termination fee. In the accompanying press release, Hubbell states that the transaction is expected to close in mid-2026 and to be accretive to adjusted EPS in 2026, and that the purchase price represents approximately 15.5x anticipated 2026 EBITDA.

NSI anticipates 2026 revenue of approximately $570 million^c. Hubbell describes NSI as a high-growth business that complements its Electrical Solutions portfolio.

02—Key points

Key Highlights

Hubbell agreed to acquire NSI Industries for $3.0 billion in cash, subject to customary purchase price adjustments, under a Stock Purchase Agreement dated May 1, 2026.
The purchase price is financed with cash-on-hand and debt, supported by a commitment letter for up to $2.8 billion of senior unsecured bridge loans from JPMorgan Chase, Bank of America and HSBC.
The purchase price represents approximately 15.5x anticipated 2026 EBITDA, according to the press release.
NSI anticipates 2026 revenue of approximately $570 million, and Hubbell expects the acquisition to be accretive to adjusted EPS in 2026.
Closing is expected in mid-2026, subject to customary conditions including Hart-Scott-Rodino clearance, and cannot occur before May 31, 2026 without Hubbell's consent.
Hubbell must pay a $150 million termination fee if the agreement is terminated for failure to obtain antitrust approvals under specified circumstances.
The acquisition adds NSI's brands, including Bridgeport fittings, Polaris connectors and Tork timers, to Hubbell's Electrical Solutions segment.

03—Questions

Frequently Asked Questions

How much is Hubbell paying for NSI Industries, and how will it be funded?
Hubbell agreed to pay an aggregate purchase price of $3.0 billion in cash, subject to customary adjustments. Hubbell anticipates financing the transaction with a combination of cash-on-hand and debt, and has obtained a commitment for up to $2.8 billion of senior unsecured bridge loans.
When is the acquisition expected to close, and what could prevent it?
The press release anticipates closing in mid-2026. Closing is subject to customary conditions, including expiration or termination of the Hart-Scott-Rodino waiting period, accuracy of representations and warranties, compliance with covenants, and the absence of a Material Adverse Effect. The closing will not occur before May 31, 2026 without Hubbell's consent.
What termination rights and fees apply to the agreement?
Either party may terminate if closing has not occurred by the Outside Date, which is eight months after signing and extendable under certain circumstances up to the one-year anniversary. Termination is also permitted if a permanent injunction or prohibition is in place or if the other party's uncured breach prevents a closing condition from being satisfied. If the agreement is terminated for failure to obtain antitrust approvals under specified circumstances, Hubbell must pay Seller a $150 million termination fee.
What does Hubbell expect from the acquisition financially?
Hubbell expects the acquisition to be accretive to adjusted EPS in 2026 and to be accretive to Hubbell and HES adjusted operating margins and long-term organic growth. NSI anticipates 2026 revenue of approximately $570 million, and the purchase price represents about 15.5x anticipated 2026 EBITDA.

04—Continue

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