Electrical Equipment and Components Bi-Weekly Industry Events & M&A Update — September 11–25, 2026

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BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE

INDUSTRIALS › CAPITAL GOODS › ELECTRICAL EQUIPMENT AND COMPONENTS

Buyers Add Capability While Policy-Linked Names Carry the Losses

This update covers sector movers, company news and new transactions over the two-week period from September 11–25, 2026.

September 11–25, 2026

Prepared by NeuraCap AI · Confidential

Market data through 2026-09-25 · events and transactions from the two-week period 2026-09-11 → 2026-09-25

Electrical Equipment and Components Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice

Sources & methodology

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1. 01
   BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE

   INDUSTRIALS › CAPITAL GOODS › ELECTRICAL EQUIPMENT AND COMPONENTS

   Cover slide introducing the Electrical Equipment and Components bi-weekly update for September 11–25, 2026.

   This bi-weekly update covers what changed, who moved and most likely why, what transacted, and what it means for the Electrical Equipment and Components sector over September 11–25, 2026. We built it to give you the two-week read in one sitting, so you can act on it with the context behind the numbers.

   Everything on this page

   BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE INDUSTRIALS › CAPITAL GOODS › ELECTRICAL EQUIPMENT AND COMPONENTS Buyers Add Capability While Policy-Linked Names Carry the Losses This update covers sector movers, company news and new transactions over the two-week period from September 11–25, 2026. September 11–25, 2026 Prepared by NeuraCap AI · Confidential Market data through 2026-09-25 · events and transactions from the two-week period 2026-09-11 → 2026-09-25 Electrical Equipment and Components Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 1

2. 02
   THE BI-WEEKLY BOTTOM LINE

   Capability Buying Advances While the Downside Sits in a Few Names

   Summarizes the two-week period's market moves and deal activity across the 14 covered names.

   Across the 14 names we cover, the set finished modestly higher, with the median move landing at +0.4% against the S&P 500's +1.1%. The losses, though, were concentrated rather than broad-based, so the story here is dispersion, not a sector-wide setback. We see buyers and builders pricing capability and demand quality differently across names — so what matters is knowing which names carry the project-linked risk.

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   THE BI-WEEKLY BOTTOM LINE Capability Buying Advances While the Downside Sits in a Few Names The two-week period in one page · 14 covered names, close-to-close · September 11–25, 2026 Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-25. Driver attributions use calibrated language and are NeuraCap reads of the recorded evidence. Electrical Equipment and Components Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 2 1 8 of 14 Covered Names Rose; The Median Move Was +0.4% The covered set finished modestly higher over the two-week period, with a +0.4% median against the S&P 500 at +1.1%. 2 The Losses Were Concentrated, Not Broad Array Technologies, Inc. (ARRY) at -14.9%, SolarEdge Technologies, Inc. (SEDG) at -8.0% and Vertiv Holdings Co (VRT) at -4.6% carried the downside while the rest of the set held around the median. 3 Data-Center-Adjacent Capability Changed Hands Vertiv announced an agreement to acquire King Environmental Services Ltd., extending its fluid management services into Europe, the Middle East and Africa. Clearfield, Inc. (CLFD) launched a high-density fiber panel aimed at data-center deployment. 4 Transaction Flow Stayed Thin; Funding Access Did Not One new transaction entered the record against 40 in the trailing set, with no disclosed terms. nVent Electric plc (NVT) priced an $800.0 million senior notes offering during the window. +4.5% Best mover — LSI Industries Inc. (LYTS) worst: ARRY -14.9% · 8 up / 6 down of 14 covered +0.4% Sector median two-week return vs S&P 500 +1.1% 1 Transactions announced in the two-week period terms not fully disclosed 1 Company filings in the window 8-K events read for driver attribution

3. 03
   PUBLIC MARKET MOVERS

   The Set Held Its Ground; Solar-Linked Names Took the Damage

   Shows close-to-close price moves for the covered set over the two-week period, flagging the largest gainers and decliners.

   The covered set held its ground on a median basis, but Array Technologies (ARRY) at -14.9%, SolarEdge Technologies (SEDG) at -8.0% and Vertiv Holdings Co (VRT) at -4.6% carried the downside. The rest of the set moved in a narrower band around the +0.4% median. We read this dispersion as evidence that solar-linked names are absorbing distinct pressure the rest of the set is not — so watch those names for name-specific, not sector-wide, risk.

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   PUBLIC MARKET MOVERS The Set Held Its Ground; Solar-Linked Names Took the Damage Bi-Weekly moves, close-to-close · September 11–25, 2026 · sector median +0.4% · S&P 500 +1.1% · materiality bar ±3.5% (sector-relative) Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-25. Attribution links each move only to filings and headlines recorded in the window; where no driver is recorded, the page says so. Calibrated language throughout — NeuraCap reads, not asserted causation. Electrical Equipment and Components Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 3 Bi-Weekly return per company · teal above zero, amber below · sector median +0.4% Array Technologies, Inc. (ARRY) -14.9% No notable in-window news was identified that clearly explains the move. At -14.9%, Array Technologies, Inc. (ARRY) sat furthest below the covered set's +0.4% median. Project-linked, incentive-exposed revenue still swings hardest when the rest of the set is quiet. UNEXPLAINED SolarEdge Technologies, Inc. (SEDG) -8.0% Shares moved following investor notices from Pomerantz LLP on Sep 17 and SBS Law on Sep 19, each announcing an investigation involving SolarEdge Technologies, Inc. (SEDG). The -8.0% two-week move is consistent with that flow. A Premium-tier name is held to its disclosure and order language as closely as to its shipments. COMPANY-SPECIFIC Vertiv Holdings Co (VRT) -4.6% Hagens Berman said on Sep 23 it is investigating potential securities law violations at Vertiv Holdings Co (VRT); on Sep 24 the company announced an agreement to buy King Environmental Services Ltd. Premium-tier platforms can be buying capability and repricing at the same time. COMPANY-SPECIFIC LSI Industries Inc. (LYTS) +4.5% No notable in-window news was identified that clearly explains the move. LSI Industries Inc. (LYTS) finished +4.5%, above the covered set's +0.4% median, with its strongest day of +3.5% on Sep 24. Code- and replacement-driven lighting demand can lead the set on ordinary trading days. UNEXPLAINED

4. 04
   MAJOR NEWS & INDUSTRY CATALYSTS

   What Companies Did: One Acquisition, One Product Launch, One Financing

   Details the two-week period's highest-impact company events: one acquisition, one product launch and one financing.

   The period's headline events were Vertiv's agreement to acquire King Environmental Services Ltd., extending its fluid management services into Europe, the Middle East and Africa; Clearfield's launch of a high-density fiber panel aimed at data-center deployment; and nVent's $800.0 million senior notes offering. Each links back to its underlying filing or article. Together they show capability and financing moving in the same direction even as deal counts stayed low — so what matters is who is positioning for data-center-adjacent demand.

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   MAJOR NEWS & INDUSTRY CATALYSTS What Companies Did: One Acquisition, One Product Launch, One Financing The two-week period's highest-impact events · titles link to the underlying filing or article · September 11–25, 2026 Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-25. "Why it matters" lines are NeuraCap reads; each event links to its source. Sources are admitted in a fixed reliability order (SEC filings, press releases, established outlets); video and social platforms are never used. Electrical Equipment and Components Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 4 Sep 24 · NEWS · PRNewsWire Vertiv agrees to acquire King Environmental Services, extending fluid management into EMEA Thermal and fluid management service capability is what high-density and AI-driven data-center scope now requires. Service attach on an installed base is being acquired outright, not grown from scratch. Sep 24 · NEWS · Business Wire Clearfield launches the NOVA Velocity Panel, a high-density fiber solution for data centers Clearfield, Inc. (CLFD) is pushing catalogue capability toward the densest part of the build. In this sector, that is how a supplier defends its specified-in position and raises content per project. Content per project, not unit volume, is where the data-center build pays. Sep 23 · NEWS · PRNewsWire Hagens Berman announces an investigation into potential securities law violations at Vertiv Investor-notice flow clustered on the period's more richly valued names. The NeuraCap read is that Premium-tier multiples come with close reading of guidance and order commentary. Where the multiple is high, the market audits the order book line by line. Sep 22 · NEWS · GlobeNewsWire Pomerantz issues a further investor notice on SolarEdge claims A third notice inside the window kept SolarEdge in the period's headline flow. The NeuraCap read is that this is a confidence story around demand quality, not a product story. Backlog quality, not backlog size, is the number under examination. Sep 19 · NEWS · Business Wire SBS Law opens a fraud investigation and invites SolarEdge investors to join A second firm named the same company within two days, widening the notice flow around SolarEdge. It keeps attention on the durability of reported orders rather than on shipments. Sell-through evidence carries more weight than sell-in when confidence is being questioned. Sep 17 · NEWS · PRNewsWire Pomerantz says it is investigating claims on behalf of SolarEdge investors The first of three investor notices naming SolarEdge Technologies, Inc. (SEDG) inside the window. For the sector theme, it marks where confidence in reported demand is being tested. Policy-exposed revenue attracts the sharpest scrutiny of what is firm and what is cancellable.

5. 05
   M&A & STRATEGIC ACTIVITY

   One New Transaction in the Record, and a Capability Deal Announced Alongside It

   Covers the one new transaction added to the record during the two-week period alongside the Vertiv capability deal.

   One new transaction entered the record this period, against 40 in the trailing set, with no disclosed terms to anchor a multiple on. Alongside it, Vertiv Holdings' agreement to acquire King Environmental Services Ltd. reinforces the same capability-buying theme we see elsewhere in the period. Thin transaction flow does not mean thin appetite — so what matters is that the deals getting done are targeted, not opportunistic.

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   M&A & STRATEGIC ACTIVITY One New Transaction in the Record, and a Capability Deal Announced Alongside It 1 transaction announced · September 11–25, 2026 · figures link to the filing Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-25. Deal multiples are LTM at announcement where disclosed; "why the deal happened" is a NeuraCap read of the recorded evidence. No old transactions are re-presented as news. Electrical Equipment and Components Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 5 Sep 14 n/a AirJoule Technologies LLC AirJoule Technologies LLC agrees to acquire Bitsink LLC EV / LTM revenue n/a EV / LTM EBITDA n/a WHY THE DEAL HAPPENED The record shows the transaction announced on Sep 14 with no disclosed consideration and no stated rationale in the period's material. HOW THE TARGET WAS VALUED No enterprise value, revenue multiple or EBITDA multiple was disclosed. For reference, the sector study's CY2027E EV/EBITDA lens carries a 14.6x median, with the Core tier at 14.6x and the Discount tier at 9.0x.

6. 06
   WHAT IT MEANS

   What the Period Means for You

   Translates the period's evidence into observations for owners, acquirers and advisors.

   For owners and operators, the separation between winners and laggards is showing up in the order book, not just the headline, with 8 of 14 covered names up on a +0.4% median. For acquirers, the reference set now carries a services precedent and one bolt-on to weigh against the 40 transactions already on record. For advisors, the clearest evidence this period is buyers and builders moving toward data-center-adjacent capability — so the playbook is to lead with capability and proof of demand quality.

   Everything on this page

   WHAT IT MEANS What the Period Means for You The two-week period translated for the people who act on it · NeuraCap view · observations, not recommendations Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-25. This page is analytical interpretation drawn from the two-week period's recorded evidence. It is not investment advice. Electrical Equipment and Components Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 6 Sector study 2026-09-25 EV / EBITDA (CY2027E) median 14.6x 15 companies in the study 3 valuation tiers FOR OWNERS & OPERATORS The Separation Is Being Made in the Order Book, Not the Headline Companies in the space traded higher on balance, with 8 of 14 covered names up and a +0.4% median. FOR ACQUIRERS The Reference Set Gained a Services Precedent and One Bolt-on One new transaction entered the record, AirJoule Technologies LLC and Bitsink LLC, against 40 in the trailing set, with no disclosed terms to anchor on. Vertiv Holdings Co (VRT) agreeing to acquire King Environmental Services Ltd. FOR ADVISORS Lead with Capability and with Proof of Demand Quality The period's clearest evidence is buyers and builders moving toward data-center-adjacent capability: Vertiv's agreement for King Environmental Services Ltd. and Clearfield, Inc. (CLFD)'s NOVA Velocity Panel launch.

7. 07
   SOURCES & METHODOLOGY

   Sources, Methodology and Important Notice

   Explains the sources and methodology behind the update's figures and attributions.

   Every figure in this update links back to the record it was taken from, and the sources drawn on for the period are listed on this page. We use calibrated language throughout, distinguishing what the record shows from what we read into it. That discipline is what lets you act on this update with confidence in what's fact versus judgment.

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   SOURCES & METHODOLOGY Sources, Methodology and Important Notice How this bi-weekly update is built and what each kind of statement rests on · September 11–25, 2026 · market data through 2026-09-25 Every figure in this update links to the record it was taken from; the publishers and filings drawn on for the period are listed above. Electrical Equipment and Components Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice 7 OBSERVED DATA Bi-Weekly stock moves are computed close-to-close over the stated window from the platform’s price series. Deal records, values and multiples come from the platform’s transaction record (SEC 8-K extractions) exactly as recorded; each figure links to its citation. Treasury rates come from the platform’s Treasury series and are shown only when the 10-year moved at least ten basis points over the window (it did not in this window, so no rate figures appear). UNIVERSE QUALITY The update universe is the platform’s approved company set for this sector, subject to a $100M market-cap floor so small, loosely related names cannot dominate the statistics. 1 name below the floor was excluded from movers and statistics for this window. EVENTS & NEWS Company events are in-window 8-K filings; news items are publisher-sourced headlines fetched for the window (and any externally supplied items, marked as such). Operational and strategic developments (deals, partnerships, launches, expansion, guidance, leadership, regulatory outcomes) are shown first; capital-return mechanics and conference appearances are limited to one each. Every event links to its source. The deck never asserts an event that has no linked record. SOURCE HIERARCHY News is admitted in a fixed order of reliability: SEC filings first, then company press releases and investor-relations communications, then transaction documents, then established outlets (Reuters, CNBC, The Wall Street Journal, Barron’s and peers). Video and social platforms — including YouTube — are never used as sources. DRIVER ATTRIBUTION A stock move is linked to an event only when the event falls inside the window, and only in calibrated language ("the move appears to reflect…", "shares moved following…"). Where no driver is recorded, the page says so and compares the move to the sector median instead. ANALYTICAL INTERPRETATION "Why it matters", "why the deal happened" and the what-it-means page are NeuraCap analytical views drawn from the recorded evidence, and are labeled as such. INHERITED CONTEXT The standing sector view (thesis, valuation lens, sector median and tiering) is inherited from the NeuraCap sector study run_20260925T153105Z_363_prod (market data as of 2026-09-25) — distilled, never re-derived. That report’s own sources page governs its content; this update reads the period against it. IMPORTANT NOTICE This report is informational only. It is not investment advice, not a recommendation to buy or sell any security, and not an offer of any kind. Readers should perform their own diligence before acting on anything described here. Linked sources this two-week period: prnewswire.com · businesswire.com · globenewswire.com · sec.gov

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