Eaton signs agreement to acquire Tripp Lite for $1.65B
By SSN Staff
Updated 9:08 AM CST, Wed February 3, 2021
DUBLIN, Ireland—Power management company Eaton announced it has signed an agreement to acquire Tripp Lite, a leading supplier of power quality products and connectivity solutions including single-phase uninterruptible power supply systems, rack power distribution units, surge protectors and enclosures for data centers, industrial, medical and communications markets in the Americas.
Under the terms of the agreement, Eaton will pay $1.65 billion for Tripp Lite, which represents approximately 12 times Tripp Lite’s 2020 EBITDA and 11 times estimated 2021 EBITDA.
“The acquisition of Tripp Lite will enhance the breadth of our edge computing and distributed IT product portfolio and expand our single-phase UPS business,” said Uday Yadav, president and chief operating officer, Electrical Sector, Eaton. “We look forward to welcoming Tripp Lite to the Eaton family.”
The acquisition, which is subject to customary closing conditions, is expected to close mid-2021.
Founded nearly 100 years ago and headquartered in Chicago, 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 2019 revenues were $21.4 billion, and the company has approximately 92,000 employees.
For more information, visit Eaton.com.
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