Eaton Acquires Royal Power Solutions
05 Gennaio 2022 - 10:30PM
Business Wire
- Portfolio addition positions Eaton to capitalize on
electrification trends across multiple high-growth markets
Power management company Eaton (NYSE:ETN) today announced it has
completed the acquisition of Royal Power Solutions, a U.S.-based
manufacturer of high-precision electrical connectivity components
used in electric vehicle, energy management, industrial and
mobility markets. Under the terms of the agreement, Eaton paid $600
million for Royal Power Solutions, which represents approximately
13.6 times the company’s estimated 2022 EBITDA.
“Growth opportunities tied to the electrification of our economy
are accelerating, and Eaton is fully participating through our
mobility and electrical businesses,” said Heath Monesmith,
president and chief operating officer, Industrial Sector, Eaton.
“And the addition of Royal Power Solutions enhances our ability to
capitalize on this secular growth trend across our eMobility,
aerospace and electrical businesses. We are excited to welcome
Royal Power Solutions to Eaton.”
Royal Power Solutions has approximately 450 employees and
manufacturing facilities in Carol Stream, Illinois, and Queretaro,
Mexico, along with a sales and engineering office in Canton,
Michigan.
Eaton’s mission is to improve the quality of life and the
environment through the use of power management technologies and
services. We provide sustainable solutions that help our customers
effectively manage electrical, hydraulic, and mechanical power –
more safely, more efficiently, and more reliably. Eaton’s 2020
revenues were $17.9 billion, and we sell products to customers in
more than 175 countries. We have approximately 85,000 employees.
For more information, visit www.eaton.com.
This news release contains forward-looking statements concerning
estimated 2022 EBITDA for Royal Power Solutions. These statements
should be used with caution and are subject to various risks and
uncertainties, many of which are outside the company’s control. The
following factors could cause actual results to differ materially
from those in the forward-looking statements: the course of the
COVID-19 pandemic globally and government actions related thereto;
continued global supply chain disruptions, unanticipated changes in
Royal Power Solutions’ markets; unanticipated downturns in business
relationships with customers or their purchases from them;
competitive pressures on sales and pricing; unanticipated changes
in the cost or availability of material and other production costs,
or unexpected costs that cannot be recouped in product pricing; the
introduction of competing technologies; unexpected technical or
marketing difficulties; unexpected claims, charges, litigation or
dispute resolutions; strikes or other labor unrest; natural
disasters; unanticipated difficulties completing or integrating
acquisitions; new laws and governmental regulations; interest rate
changes; changes in tax laws or tax regulations; currency
fluctuations; and unanticipated deterioration of economic and
financial conditions in the United States and around the world. We
do not assume any obligation to update these forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20220105005989/en/
Jennifer Tolhurst, +1 (440) 523-4006
jennifertolhurst@eaton.com
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