Hubbell to Acquire DMC Power from Golden Gate Capital for $825 Million in Cash.

Hubbell has agreed to acquire DMC Power from Golden Gate Capital for $825 million in cash. DMC Power is a connector technology systems maker with revenue expected to reach $130 million in 2026. Hubbell plans to finance the deal with cash on hand and debt, aiming to complete the acquisition by year-end.

Hubbell Incorporated (NYSE: HUBB) has agreed to acquire DMC Power, a provider of connectors and tooling for utility substation and transmission markets, from private-equity firm Golden Gate Capital for $825 million in cash [1]. The acquisition aims to strengthen Hubbell’s Utility Solutions portfolio and enhance its presence in the growing utility substation and transmission markets.

DMC Power, with over 350 employees and manufacturing facilities in California and Mississippi, is expected to generate approximately $130 million in revenue by 2026 [2]. The company’s Swage system, comprising custom-designed Power Connectors and a patented 360° Radial Swage Tool, has helped utilities worldwide complete projects efficiently.

Hubbell, a leading manufacturer of utility and electrical solutions, expects to finance the acquisition using cash on hand and debt, with a target completion date by the end of 2025 [1]. The company anticipates that the acquisition will be accretive to adjusted EPS in 2026.

Gerben Bakker, Chairman, President, and CEO of Hubbell, stated, “We are excited to add another high-growth, high-margin business to Hubbell’s Utility Solutions portfolio. As load growth, datacenter buildouts, and aging infrastructure drive significant investment in utility substation and transmission markets, this acquisition expands Hubbell’s strong presence in these attractive markets” [2].

Javier Puig, a Managing Director at Golden Gate Capital, noted, “We are thrilled with this outcome and the significant progress that DMC made as an electrical connectivity provider since our investment in 2023. During Golden Gate Capital’s ownership period, DMC experienced rapid organic growth” [2].

Tony Ward, CEO of DMC Power, expressed gratitude to employees and customers, stating, “By joining forces with Hubbell, we are confident that swage will accelerate its industry adoption and that our customers will continue to receive high-quality service and solutions” [2].

The acquisition is expected to close by the end of 2025, subject to customary closing conditions, including regulatory approvals [2].

References:
[1] https://www.wsj.com/articles/hubbell-to-buy-dmc-power-from-golden-gate-capital-for-825-million-59dacb9a
[2] https://www.globenewswire.com/news-release/2025/08/12/3131593/0/en/Hubbell-to-Acquire-DMC-Power.html