nVent Electric plc (NYSE:NVT) will look for acquisitions. nVent Electric announced that it has entered into a definitive agreement to sell its Thermal Management business (?Thermal Management?), which includes the RAYCHEM and TRACER brands, to funds managed by Brookfield Asset Management for a cash purchase price of $1.7 billion, subject to customary closing adjustments. nVent expects net after-tax proceeds from the transaction to be approximately $1.4 billion and intends to use the proceeds for acquisitions and share repurchases.