Hubbell Expands Grid Infrastructure Capabilities With DMC Power Deal

Hubbell Incorporated HUBB will acquire DMC Power LLC for $825 million in cash, expanding its Utility Solutions portfolio with patented swage connection technology for high-voltage infrastructure. The deal is expected to close by year-end 2025 and will be funded with cash and debt.

The acquisition supports Hubbell's growth strategy amid rising power demand, data center construction and aging grid infrastructure.

Chairman, President, and CEO Gerben Bakker said DMC Power's high-margin business aligns with Hubbell's focus on long-term utility investment.

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Greg Gumbs, president of Hubbell Utility Solutions, said the swage system complements existing connector offerings and will enable faster, more reliable substation and data center buildout.

Private equity firm Golden Gate Capital acquired DMC Power in 2023. Managing Director Javier Puig cited rapid expansion under its ownership, including new products and facility investments.

CEO Tony Ward said partnering with Hubbell will accelerate swage adoption while maintaining customer service standards.

DMC Power forecasts 2026 revenue of about $130 million and EBITDA of roughly $60 million. Hubbell expects the acquisition to be accretive to adjusted earnings per share in 2026.

DMC employs more than 350 people and operates plants in Carson, California, and Olive Branch, Mississippi, with distribution centers across North America.

Hubbell held cash and cash equivalents of $382.6 million as of June 30, 2025.

Price Action: HUBB shares closed 0.27% lower at $417.54 on Monday.

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