nVent sells its thermal management business for $1.7 billion

In May, rumors emerged that nVent was seeking bids for the company, which includes underfloor heating systems, snow melting and defrosting systems and pipe protection products. On Thursday, the London-based company, which is headquartered in St. Louis Park, announced the sale to Brookfield Asset Management, a global alternative investment firm with more than $925 billion in assets.