Eaton to acquire Italy's grid equipment maker COL Group for €810 million to expand in Europe
Eaton to acquire Italy's grid equipment maker COL Group for €810 million to expand in Europe Sept 25 (Reuters) - Power management company Eaton ETN.N said on Friday it had agreed to acquire Italy-based COL Group from investment management firm Oaktree Capital Management for an enterprise value of €810 million ($923.16 million).
Eaton said the deal with Oaktree's Power Opportunities strategy would expand its power distribution and manufacturing capacity in Europe amid growing demand from data centers and utilities.
COL Group, which has about 400 employees and facilities in Turin, Milan, Bergamo and Catania, forecasts 2027 sales of €250 million.
The company develops medium-voltage electrical distribution solutions, including switchgears, grid automation technologies and modular power systems.
The deal is expected to close in the first quarter of 2027.
The Dublin, Ireland-based Eaton expects 2026 adjusted profit between $13.4 and $13.6 per share.
($1 = 0.8774 euros)
(Reporting by Megavarshini G. Somasundaram in Bengaluru; Editing by Vijay Kishore)
((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com;))
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Eaton to acquire Italy's grid equipment maker COL Group for €810 million to expand in Europe