Morrison Foerster advised Palladium Equity Partners, LLC, a middle market private equity firm (along with its affiliates, “Palladium”), on a definitive agreement to sell its majority interest in Trachte, LLC, a leading provider of highly engineered protection and control buildings with mission critical applications, to nVent Electric plc (NYSE: NVT) for $695 million. Trachte's products and services are a critical part of protecting essential controls, equipment, and infrastructure for electric utilities, data centers, and other commercial and industrial customers. Palladium, which focuses on transforming family and founder-owned businesses, acquired its majority stake in Trachte in 2020.
The MoFo team was led by San Francisco private equity/M&A partner Patrick Huard, Miami associate Bill Halaby and Washington, D.C. associate Shams Haidari, together with San Francisco associates Drew Alley and Garrett Jones. Financing matters were led by San Francisco private equity/finance partners Darío Avram and Eric Min and Los Angeles associate Rohit Sengupta.
