Eaton to Acquire Power Protection Supplier Tripp Lite for $1.6B
Eaton says the acquisition of Tripp Lite will enhance the breadth of its edge computing and distributed IT product portfolio, and expand its single-phase UPS business.
DUBLIN — Power management company Eaton (NYSE:ETN) announces it has signed an agreement to acquire Tripp Lite, a leading supplier of power quality products and connectivity solutions.
Founded nearly 100 years ago, Chicago-based Tripp Lite offers 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 the company, which represents approximately 12 times Tripp Lite’s 2020 EBITDA and 11 times estimated 2021 EBITDA, according to an announcement.
“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,” says 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.
Eaton’s 2019 revenues were $21.4 billion. The company sells products to customers in more than 175 countries and has approximately 92,000 employees.
In October, Eaton says it became the first power management company in the industry to have UPS connectivity devices certified to meet both the UL 2900-1 and International Electrotechnical Commission (IEC) 62443-4-2 cybersecurity standards, for its Gigabit network card and industrial gateway card.
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.
A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!