Hubbell Bolsters Utility Product Offering with $825 Million Acquisition of DMC Power

Hubbell Inc. 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. 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.

DMC Power forecasts 2026 revenue of about $130 million and EBITDA of roughly $60 million. The company employs more than 350 people and operates plants in Carson, CA; and Olive Branch, MS; with distribution centers across North America.