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February 03, 2025 • Read 2 minutes
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New York, February 03, 2025 (Globe Newswire) – BROKFILD Asset Management (Nyse: BAM, TSX: BAM) through one of the private stock box BBU.UN, BBUC), it has completed the Chemelex (“Business”) from NVENT Electric PLC at a purchase price of $ 1.7 billion.
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Chemelex is the global leading company in the design and manufacture of electrical heat tracking systems, which are specialized wire systems that regulate pipe temperature in industrial factories and commercial buildings. With high barriers in front of entering and identifying the strong brand as an inventor to track electrical heat in 1972, business sells its products in the industrial, commercial, residential, traditional, clean and infrastructure energy markets.
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“Chemelex is a pioneer in the global market that provides a basic product and service with a large -scale connection with the Brokefield environmental system through its final markets. We are excited to take advantage of our deep experience in industrial and carve companies where we participate With the team to enhance operations and open their full potential as an independent work.
Brookfield brings a deep global experience to invest in operational transformation and leadership in industrial business and manufacturing companies. Previous investments include Claios, a world leader in advanced low voltage batteries, Westinghouse, the leading company in providing important technologies, products and services in the nuclear energy industry and Graftech, a global manufacturer for graphite poles.
Financing
Brockefield investments were funded by about $ 830 million in shares, which invested Brukvield Business Company about 210 million dollars for a benefit of 25 %. The balance was funded by institutional partners.
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Brookfield Asset Management (NYSE: BAM, TSX: BAM) is the leading global alternative asset manager, based in New York, with more than $ 1 trillion of management assets. We invest the customer’s capital in the long run with a focus on real assets and basic services companies that make up the backbone of the global economy. We offer a range of alternative investment products for investors all over the world – including public and private pension plans, standing and institutions, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.
Brukvield’s private stock company, which runs more than $ 140 billion in management assets, is focusing on driving operational transformation in companies that provide basic products and services.
Brukvield Business Partners It is the leading car listed in the Brokefield Special Stock Group. It is a global commercial and industrial company that focuses on possessing and operating high -quality companies that provide basic products and services and benefit from a strong competitive position.
Investors have flexibility in investment in Brookfield Business Partners either through Brookfield Business Partners LP (NYSE: BBU; TSX: BBU.UN), a limited partnership or Brookfield Business Corporation (NYSE, TSX: BBUC), a company. For more information, please visit https://bbu.brookfield.com.
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