Maverick Power sold to nVent for $1.75 billion

Maverick Power completed its sale to nVent Electric on Oct. 1, finalizing a deal valued at $1.75 billion. The McKinney company, which manufactures power distribution systems for data centers, will receive an additional $550 million if it meets specific future performance targets.

The acquisition marks the end of a rapid expansion for the firm, which was founded in 2020. Maverick Power produces switchgear, control panels, and other equipment designed to deliver reliable power to computing facilities. The company positioned itself to meet the surging demand for infrastructure required by generative AI and data centers.

Maverick Power now employs approximately 900 people across Texas and Arizona. The company is on track to generate around $700 million in revenue this year. Tom Currier, president and CEO of Maverick, stated that the milestone allows the company to join nVent to deliver a broader power and cooling portfolio for data center customers.

The company’s growth trajectory has placed it at the top of local business rankings. Maverick Power claimed the top spot on the SMU Cox Dallas 100 list in 2024. That list ranks the region’s fastest-growing privately held companies. In 2025, the company finished in third place on the same ranking.

The Dallas 100 has recognized homegrown businesses for 36 years. The program was established in 1990 by Jerry White, then director of the Caruth Institute for Entrepreneurship, and Lane Kramer, founder of The CEO Institute. They created the list to celebrate the top 100 fastest-growing entrepreneurial companies in the Dallas area during a period of economic recession.

To qualify for the list, businesses must be independently owned, privately held, and headquartered in North Texas. Companies must have revenue between $1 million and $250 million. In the year Maverick Power topped the list, the 100 companies on the roster generated annual sales exceeding $3.5 billion. Those companies maintained average growth rates of 80% over a three-year period.

Josh Taylor, executive director for the William S. Spears Institute for Entrepreneurial Leadership at SMU Cox, noted that Maverick Power is not a stereotypical tech startup. He described it as an industrial infrastructure company built to take advantage of a unique point in time. Taylor said the company’s success demonstrates that local businesses do not have to focus solely on consumer or business technology to thrive in the Dallas economy.

Emily Choi, executive director of the Caruth Institute for Entrepreneurship, said Maverick Power identified a meaningful need in the market and built an organization capable of scaling. She noted that the company exemplifies what the Dallas 100 celebrates. The institute continues to connect entrepreneurs and business leaders with the community through its programs.

The Dallas 100 is currently in its 36th year of operation. Tickets for this year’s celebration are available for purchase until Friday, Nov. 6. The event will honor the area’s top 100 entrepreneurial success stories.