# Hubbell

Hubbell is an Asset Manager based in New Orleans, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** New Orleans, United States
- **Region:** North America
- **Address:** Shelton, CT, United States
- **Founded:** 1888
- **Assets under management:** Undisclosed
- **Website:** hubbell.com
- **LinkedIn:** https://www.linkedin.com/company/hubbellincorporated

## About

Hubbell Incorporated is an SEC-registered investment adviser in New Orleans, LA, registered since 2019. The firm manages $618 million in assets, with $574 million on a discretionary basis. It has 3 employees and 3 investment advisers.

## Sectors

- Industrial Tech
- Energy Transition & Renewables
- Infrastructure

## People

- Harvey Hubbell — Founder
- Gerben Bakker — Chairman, President and Chief Executive Officer

## Questions

### How does Hubbell allocate capital between organic growth and acquisitions?

Hubbell operates as a serial acquirer in fragmented electrical component markets, targeting bolt-on manufacturers that expand its Utility Solutions or Electrical Solutions segments. The firm funds acquisitions through free cash flow and incremental debt, while maintaining a dividend program. The Systems Control acquisition in 2023 exemplified its approach — deploying $1.2 billion for a substation control builder with direct utility relationships. Organic growth focuses on capacity expansion and new product development tied to grid modernization megatrends.

### What end markets drive Hubbell's revenue concentration?

Utility end markets are the dominant driver, with the Utility Solutions segment contributing roughly $3 billion in 2023 revenue. Investor-owned utilities and electric cooperatives purchase transmission and distribution hardware, connectors, and enclosures. The Electrical Solutions segment serves commercial and industrial construction, including office retrofits, data centers, and manufacturing facilities. Residential exposure is minimal relative to peers.

### Who runs investment and acquisition decisions at Hubbell?

Chairman, President and CEO Gerben Bakker leads strategic capital allocation, including acquisition sourcing and integration. Bakker joined Hubbell in 2015 and ascended to the top role, steering the Systems Control transaction and the divestiture of the heavy industrial lighting business. The corporate development function executes deal-level work under executive committee oversight.

### Does Hubbell have exposure to energy transition infrastructure?

Yes, Hubbell's grid modernization products serve the interconnection and reinforcement needs that accompany renewable generation growth. Substation control buildings from Systems Control, distribution connector upgrades, and enclosure systems for battery storage installations align with utility-scale renewables buildout. The company does not manufacture generation equipment but supplies the physical grid layer that connects renewable assets.

### What geographies does Hubbell manufacture in?

Primary manufacturing is concentrated in the United States, with additional facilities in Canada and Monterrey, Mexico. International sales offices serve select markets, but revenue remains overwhelmingly North American. The supply chain relies on regional manufacturing to serve utility procurement preferences and reduce logistics exposure.

### What did Hubbell divest in its recent portfolio reshaping?

The company sold its heavy industrial lighting business in 2023, sharpening the Electrical Solutions segment toward commercial and industrial applications with higher growth profiles. The divestiture followed a review of capital allocation priorities favoring grid automation, renewables interconnection, and utility infrastructure over commoditized industrial lighting.

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Last updated: 2026-06-03T20:00:00.000Z

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