In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. For the aerospace industry, Eaton manufactures and markets a line of systems and components for hydraulic, fuel, motion control, pneumatic systems and engines. Founded in 1911, Eaton has been listed on the New York Stock Exchange for nearly a century. In 2006, Eaton entered the data center power distribution market. [23] Eaton relocated to its new 580,000 square foot facility, named Eaton Center, in Beachwood, Ohio in early 2013. Eaton is a smart power management company. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. [33], In 2004, Eaton Corp sued Triumph Group for trade secrets theft, but when it was discovered that the companys lawyers were paying former Hinds County District Attorney Ed Peters to improperly influence then-Hinds County Circuit Judge Bobby DeLaughter, the defendants countersued. Eaton's purchase price represents approximately 12 times Tripp Lite's 2020 EBITDA and 11 times estimated 2021 EBITDA. A year later, Republic Motor Truck Company, Torbensen's largest customer bought out the company. Ranked #4 in "100 Best Corporate Citizens" of Corporate Responsibility Magazine in 2013, also ranking in Top 50 for Six Consecutive Years. The location of the arbitration shall be [city], [state]. Standard Parts went in receivership later the same year and was later liquidated. Jul 14, 2021 4:32 PM EDT The U.S. Justice Department said Wednesday that power-management-systems providers Eaton ( ETN) - Get Free Report and Danfoss A.S. will be required to divest certain. [21], Eaton's hydraulics business, manufacturing systems and components for the agriculture, construction, mining, forestry, utility, material handling, machine tools, molding, power generation, primary metals, and oil and gas markets, was acquired by Danfoss in August 2021 for $3.3 billion.[22]. As stated by a CNBC report, President Biden is supportive of a rebate program, wherein American car buyers could trade their older vehicles for new EVs. Since earnout provisions often lead to disputes, the parties should have a clear mechanism for resolving disputes. An earnout is a contractual mechanism in a merger or acquisition agreement, which provides for contingent additional payments from a buyer of a company to the sellers shareholders. Parent shall not, and shall not authorize or permit its Affiliates to, (i) take any action with the intent of avoiding or reducing the payment of any Earnout Payment, (ii) divert to another business of Parent or its Affiliates any business opportunity in a manner that could reasonably be expected to or does diminish or minimize the Earnout Payments, (iii) take any action for the purpose of shifting Gross Revenues outside of the Earnout Period or (iv) reduce Gross Revenues (including by providing discounts, rebates or other price concessions) in a manner inconsistent with prudent industry practice. At the announcement of the acquisition, which took place in 2021, Ashraf Yehia, Managing Director at Eaton Middle East, affirmed that "this important acquisition will strengthen our Power Quality portfolio as Tripp . Morgan Stanley (NYSE: MS) and Eaton Vance Corp. (NYSE: EV) announced today that the companies currently expect to complete Morgan Stanley's acquisition of Eaton Vance on March 1, 2021 pursuant to the merger agreement dated as of October 7, 2020 (the "Merger Agreement"). Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. By combining the knowledge and experience of the two strong businesses and great teams, our customers will receive an unmatched level of service and expertise from a single partner. DUBLIN--(BUSINESS WIRE)--Power management company Eaton (NYSE:ETN) today announced it has completed the acquisition of Cobham Mission Systems.Cobham is a leading manufacturer of air-to-air . Earnouts are typically earned if the business acquired meets certain financial or other milestones after the acquisition is closed. This article is about the industrial manufacturer. Eatons hydraulics business will be combined with the Danfoss Power Solutions business segment, adding approximately 10,000 employees worldwide and US$1.8 billion (around 1.5 billion) in 2020 global sales. Necessary cookies are absolutely essential for the website to function properly. Eaton hybrid power systems: mounted between the UltraShift automated manual transmission and clutch is an electric motor/generator, connected to a power inverter using lithium ion batteries, controlled with an electronic control module. Electrical and Industrial | Power management solutions | Eaton Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. The Earnout Payments will continue for a period of three (3) years after the Closing Date (the Earnout Period). The acquisition, which is subject to customary closing conditions, is expected to close mid-2021. Website Last Modified March 4, 2023. On February 1, the Dublin, Ireland-based company said that it had reached a deal to buy Cobham Mission Systems a manufacturer of air-to-air refueling systems, environmental systems, and actuation, primarily for defense markets. The strengthened Danfoss Power Solutions will have the broadest selection of mobile and industrial hydraulics products and solutions available on the market, with the full line offering including fluid conveyance systems. News September 16, 2021 at 09:37 AM Share & Print What You Need to Know Deals with E-Trade, Eaton Vance and others have grown the firm's base to 14 million relationships with $8 trillion in. In 1911, Joseph O. Eaton, brother-in-law Henning O. Taube and Viggo V. Torbensen, incorporated the Torbensen Gear and Axle Co. in Bloomfield, New Jersey. Each Earnout Payment installment shall be comprised of cash assuming 100% or more of the applicable Earnout EBITDA Target is met. The Tripp Lite acquisition will complement Eaton?? The company's filing status is listed as Active and its File Number is 4743425. The buyer will often want maximum flexibility with respect to how it can operate the acquired business post-closing, especially as circumstances and the business environment changes. View The Latest Edition [17] In late 2007, it acquired the MGE Office Protection Systems division of Schneider Electric, as a result of Schneider's acquisition of APC. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.You know this company from its past glory days, but few would expect that its poised for a monster turnaround. Required fields are marked *. All Rights Reserved. To complete the power distribution portfolio Eaton released a line of rack power distribution products under its Powerware brand called ePDU. The Zacks Consensus Estimate for fiscal 2022 earnings per share of the company has moved up 1.5% in the past 60 days. The move will see the Danfoss Group grow in size by a third and establish itself as a global leader in mobile and industrial hydraulics. EBITDA Earnout Targets means (i) $___ for the period commencing on January 1, ___, and ending on December 31, ___, and (ii) $___ for the period commencing on January 1, ___, and ending on December 31, ___, and (iii) $[___] for the period commencing on January 1, ___, and ending on December 31, ___.. [15] The Powerware brand is known for the design and production of medium to large Uninterruptible Power System (UPS) devices. It does not store any personal data. In 1978, Eaton Corporation acquired Samuel Moore & Company, Kenway Systems, and Cutler-Hammer. From 1920s-1964 Eaton was based on East 140th Street in Cleveland, Ohio. The circumstances could include these events during the earnout period: The earnout provisions may address whether the buyer will have an offset right in the event of indemnification claims against the seller. Copy and paste multiple symbols separated by spaces. [16] Shortly after, it added Pulizzi Engineering Inc., a manufacturer of mission critical power distribution based in Santa Ana, California. Eaton Corp. on Feb. 1 announced the acquisition of air-to-air refueling systems maker Cobham Mission Systems (CMS) for $2.8 million, in move to grow its aerospace business . Here is a sample arbitration clause that can be used: Dispute Resolution. The cookie is used to store the user consent for the cookies in the category "Performance". Incidents included food being thrown on his desk, food being thrown through the roof of his car, use of the N-word, and the presence of neo-nazi flyers at Eaton Corp.[27] The employee developed psychological problems and slipped into homelessness shortly after being fired. HuanYu High Tech has production operations in Wenzhou. There is direct tension on this issue between seller and buyer. Heath Monesmith president and chief operating officer, electrical sector. +353 1 637 2900 Parent will provide the Stockholders and their accountant with reasonable access to such books, records, work papers (including outside accountants work papers), employees and accountants of Parent and the Surviving Corporation, as the Stockholders may reasonably request in connection with verifying the correct amount of the Earnout Payments that are due and payable. Eaton also announced it has signed an agreement to acquire Cobham Mission Systems (CMS), a leading manufacturer of air-to-air refueling systems, environmental systems, and actuation primarily for defense markets. Gross Revenues is hereby defined to mean any and all gross revenues, without deduction of any costs, fees or expenses whatsoever, that are directly or indirectly attributable to or relate to the Company, the surviving corporation pursuant to the acquisition contemplated herein, their business, and any derivative products or services, and whether such items are earned through the Company, Parent or any of their Affiliates. In 2003, Eaton's Electrical Distribution and Control business (formerly known as Cutler-Hammer) acquired the electrical division of Delta plc. Cobham Mission Systems highly complementary products and strong position on growing defense platforms will enhance our fuel systems business and position our Aerospace business for future growth, said Heath Monesmith, president and chief operating officer, Industrial Sector, Eaton. The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Eaton's hydraulics business ("Eaton Hydraulics") by Danfoss. Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. This led to numerous suits against Eaton. Copyright by Richard D. Harroch. All Rights Reserved. Under the terms of the agreement, Eaton will pay $2.83 billion for CMS, inclusive of $130 million in tax benefits. Mobile hydraulics has been one of Danfoss core and most successful businesses for over 50 years. Then, on March 22, 2021, Eaton acquired Green Motion SA, a leading Swiss-based designer and manufacturer of electric vehicle charging hardware and related software. Information Rights. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>. This can minimize a buyers risk of overpaying for a company. Thecombined product portfolio and broadened global reachwill better serve customers and distributors all around the world., For more informationDanfoss Media RelationsTel: + 45 70 20 44 88. Here is sample earnout section to an acquisition agreement, based on EBITDA milestones over three years, with language favorable to the buyer: Earnout Payments. DUBLIN, Ireland Power management company Eaton announced Friday that it has signed an agreement to acquire Tripp Lite, a 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, Eaton currently has a Zacks Rank #3 (Hold). Eaton's 2020 revenues were $17.9 billion, and we sell products to customers in more than 175 countries. Babco Electric Group acquired by Eaton Electrical Babco Electric Group Eaton Electrical Judge Bobby DeLaughter was sentenced to 18 months in prison.[34][35]. Founded in 1911, Eaton has been listed on the NYSE for nearly a century. February 3, 2021 DUBLIN, Ireland Power management company Eaton announced it has signed agreements to acquire Tripp Lite and Cobham Mission Systems, expanding Eaton's power quality business in the Americas and Eaton Aerospace's fuel and environmental systems offerings, respectively. Connect and transact with thousands of top North American companies today. Company. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. In a third acquisition, on March 29, 2021, the company purchased a 50% stake in HuanYu High Tech, a subsidiary of HuanYu Group that manufactures and markets low-voltage circuit breakers and contactors in China and throughout Asia. DUBLIN, Ireland Power management company Eaton announced it has signed agreements to acquire Tripp Lite and Cobham Mission Systems, expanding Eatons power quality business in the Americas and Eaton Aerospaces fuel and environmental systems offerings, respectively. All such initiatives will help in rapid conversion of high carbon footprint creating vehicles and boost sales of EVs.According to EV-Volumes.com report, 2020 EV sales in the United States fared better than the auto market, with Tesla TSLA dominating the market. Entrevista Juan Manuel Gallastegui https://t.co/sKxf8wGd8H, Hasbro Inc. a dclar qu'au cours des dernires annes, elle s'est efforce de rduire sa dpendance l'gard de l https://t.co/G4Q45QOPZw, Hasbro Inc. reported that in recent years it has worked to reduce its dependence on manufacturing in China, for exa https://t.co/OjaasXJwku, Hasbro Inc. inform que en los ltimos aos ha trabajado para reducir su dependencia de la fabricacin en China, po https://t.co/lKYa55yFoG, NeuroPace estime qu'il y a environ 575 000 patients adultes souffrant d'pilepsie focale rsistante aux mdicaments https://t.co/OVXVC2gXYz, Suscrbete a Opportimes por correo electrnico. This is a great day for Danfoss as we welcome 10,000 new colleagues into the organization and create a global leader in mobile and industrial hydraulics. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. Eaton will pay $1.65 billion for Tripp Lite, which was founded in 1922. For more information, visit Eaton.com. Join Mergr and gain access to Eatons M&A summary, the M&A summaries of companies just like it, as well as recent M&A activity in the electrical equipment sector. Based in the United States, Royal Power Solutions is a manufacturer of high-precision electrical connectivity components used in the electric vehicle, energy management, industrial and mobility markets. Multinational power management corporation Eaton began 2021 by announcing a pair of large acquisitions. Initial products were internally developed PDU's and RPP's under the Powerware brand and included the PowerXpert metering system. Is the amount of the potential earnout payments significant enough to delay the seller getting all cash up front? This is a great day for Danfoss as we welcome 10,000 new colleagues into the organization and create a global leader in mobile and industrial hydraulics. It reported revenue of $19.6 billion in 2021 and serves clients in more than 170 countries. The move will see the Danfoss Group grow in size by a third and establish itself as a global leader in mobile and industrial hydraulics. In 1958 Eaton Corporation acquired Fuller Manufacturing. Any disputes regarding Earnout Payments will be handled through confidential binding arbitration pursuant to Section _____ of this Agreement. First, the total price to be paid for the acquisition can be based on the sellers future performance rather than solely on the sellers projected performance. From the Effective Time through the end of the Earnout Period, Parent shall not take any willful action the sole purpose of which is to prevent or reduce generation of EBITDA sufficient to enable payment of the maximum Earnout Payment payable under this Agreement. Pedersen Co. acquired by Eaton Electrical, Cooper Industries acquired by Eaton Electrical, Oxalis Group acquired by Eaton Electrical, Integrated Partial Discharge Diagnostics acquired by Eaton Electrical, Green Motion acquired by Eaton Electrical, Arrow Hose & Tubing acquired by Eaton Electrical, Integrated Hydraulics acquired by Eaton Electrical, Moeller Holding Gmbh & Co. KG acquired by Eaton Electrical, Schreder-Hazemeyer acquired by Eaton Electrical, Marina Power and Lighting acquired by Eaton Electrical, Aphel Technologies acquired by Eaton Electrical. In this article, I discuss the important business, legal, and drafting considerations for earnouts to minimize the likelihood of disputes. Earnout Periods means (i) the period commencing on January 1, ___, and ending on December 31, ___, [and] (ii) the period commencing on January 1, ___, and ending on December 31, ___, and (iii) the period commencing on January 1, ___, and ending on December 31, ___. The acquisition of Eatons hydraulics business is a vital aspect of Danfoss growth strategy. On 17 Mar 2021, Eaton completed the acquisition of Tripp Lite for $1.65 billion. Within 90 days following the end of each Earnout Period, Parent shall cause the Surviving Corporation to prepare and deliver to the Securityholder Representative a statement of the EBITDA for the Company Business for such prior Earnout Period (each such statement an EBITDA Statement). Disability Plan for U.S. In that year, Eaton Corporation moved into a 28-story Cleveland office tower which was renamed for it. Danfoss Power Solutions and Eaton Hydraulics have merged to better help you reach your full potential, giving you access to the industrys broadest range of mobile and industrial hydraulics and fluid conveyance products and solutions. This acquisition brought Delta's brands Holec, MEM, Tabula, Bill and Elek under the Eaton nameplate[13] with the previous Westinghouse divisions and gave the company manufacturing facilities to meet IEC standards, one of the steps to become a global company and developing a worldwide standard. Typically, the seller wants to receive as much of the purchase price in cash up front upon the closing of the acquisition. Combining the two robust businesses represents a perfect match and provides countless opportunities, such as increasing our engineering expertise and capabilities, doubling our global application support and extending the value of our Application Development Centers and digital design tools. The system has a fail-safe that reverts to conventional engine-powered operation should some fault occur. Notably, consumers can currently get a federal tax credit of up to $7,500 on the purchase of an all-electric or plug-in hybrid EV althoughthe facility is not available for all EVs.While the EV is a relatively young industry, President Joe Biden is taking further efforts to make it and green initiatives a top priority for the United States. D04 Y0C2 These symbols will be available throughout the site during your session. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them. After several years of co-branding UPS products "Eaton|Powerware" the company is switching to the single brand Eaton for all UPS products including; BladeUPS, 9355, 9390, 9395, and 9E. 2012, page 3C, Corporation tax in the Republic of Ireland#Corporate tax inversions, "Eaton Corporation plc 2021 Annual Report (Form 10-K)", "A Brief but Sad History of Selected Corporate Inversions", https://www.eaton.com/us/en-us/company/about-us/our-heritage.html, "Eaton Corp. to complete move to new Beachwood campus by Feb. 18", http://www.manufacturingnews.com/subscribers/users_orig.cgi?mfgnews_username=mbg&flag=read_article&id_title=1&id_article=581&id_issue=34&id_sub=459&id_sl=, "Hybrid Electric Vehicle Systems Overview", "Clutches for linehaul and vocational trucks", "Eaton buys Delta plc's electrical division based in United Kingdom", "Cutler-Hammer in joint venture between Eaton, Caterpillar", "Eaton Announces Acquisition of Aphel Technologies Limited", "Eaton Expands Power Quality Offerings With Acquisition of Pulizzi Engineering", "Eaton To Acquire MGE's Small Systems Business From Schneider Electric", "Eaton completes $11.46B deal for Cooper Industries - Businessweek", "Eaton completes the acquisition of Tripp Lite, expanding Eaton's power quality business in the Americas", "Danfoss Formally Completes US$3.3 Billion Acquisition of Eaton's Hydraulics Business", "Eaton Corporation Relocated World Headquarters to Beachwood; Puts City on Map for Economic Development", "Eaton Names Heath Monesmith President and Chief Operating Officer, Electrical Sector, and Paulo Ruiz Named President and Chief Operating Officer, Industrial Sector, Effective July 5, 2022", "Uday Yadav appointed new CEO of TK Elevator predecessor Peter Walker to retire", "Vindication, at Long Last: Ex-Employer Must Pay Homeless Man $1.25 Million for Racial Harassment", "Company faces serious allegations of racial harassment and retaliation", "Outward v. Eaton Corp. You also have the option to opt-out of these cookies. Create your Watchlist to save your favorite quotes on Nasdaq.com. Completion of the transaction remains subject to Each party will bear its own legal fees and expenses, and 50% of the arbitrators fee.. Two days earlier, Eaton announced that it had inked a deal to buy Chicago-based Tripp Lite a major manufacturer of power management products that include uninterruptible power supply systems, rack power distribution units, surge protectors, and enclosures. In the past six months, shares of Eaton have gained 14.2% compared with the industry?? Craig Arnold CEO Per a report from MarketandMarkets, North America is expected to lead the global air-to-air refueling market during the 2020-2025 time period. The new Danfoss Power Solutions team will create a global leader in mobile and industrial hydraulics, drawing on long legacies of innovation and industry-leading expertise. If the Company Business meets ___% or more of the applicable EBITDA Earnout Target, the actual percentage of the EBITDA Earnout Target obtained by the Company Business shall equate to the percentage of the total amount of Earnout Payment due for such Earnout Period up to 100%, in which case the entire amount of the applicable Earnout Payment would be due. Do Not Sell My Personal Information (CA Residents Only). Mike Toth of Haig Partners, a buy-sell firm in Fort Lauderdale, Fla., represented the seller in the transaction. [20], On 17 Mar 2021, Eaton completed the acquisition of Tripp Lite for $1.65 billion. Under the terms of the agreement, Eaton will pay $1.65 billion for Tripp Lite, which represents approximately 12 times Tripp Lites 2020 EBITDA and 11 times estimated 2021 EBITDA. We have approximately 92,000 employees. To the extent that more than ___% but less than 100% of the EBITDA Target is met during any Earnout Period, the Company Stockholders shall receive, on a linear basis, the equivalent percentage of the Earnout Payment for such period, and the Company Stockholders shall lose the right to receive any balance of the Earnout Payment for such period. Swarm which [] SpaceX's acquisition of Swarm is paying off with new Starlink thrusters President foresees no layoffs or facility closings. This article was originally published onAllBusiness.com. Second, an earnout can work as a motivational and retention mechanism for the sellers key management team to continue operating the business successfully after the acquisition has closed. To this end, it is imperative to mention that strong support from the U.S. administration in terms of tax incentives and government funding has been boosting EV growth in the nation. Click to get this free reportEmerson Electric Co. (EMR): Free Stock Analysis ReportRegal Beloit Corporation (RBC): Free Stock Analysis ReportEaton Corporation, PLC (ETN): Free Stock Analysis ReportTesla, Inc. (TSLA): Free Stock Analysis ReportTo read this article on Zacks.com click here. [24] They reincorporated, as a means of reducing their U.S. corporate tax burden, in Ireland as part of the Cooper merger involved establishing a registered head office in Dublin, Ireland but operational headquarters remain in Beachwood. Image Credit: Kevin Flynn / Cobham Mission Systems, Select From Over 500,000 Industrial Suppliers. Danfoss President and CEO Kim Fausing commented on the acquisition: Eric Alstrm, President of Danfoss Power Solutions, said: Paulo Ruiz, the President of the former Eaton hydraulics business, added: Danfoss formally completes US$3.3 billion acquisition of Eatons hydraulics business. To the extent that 100% or greater of the EBITDA Target is met during any Earnout Period, the Company Stockholders shall receive the entire Earnout Payment for such period. By clicking Accept, you consent to the use of ALL the cookies. Monday, August 2, 2021 Danfoss' acquisition of Eaton's hydraulics business has fully closed. Eaton Corporation ETN announced that it has completed the acquisition of Cobham Mission Systems, a manufacturer of air-to-air refueling systems, which will allow Eaton to further expand the Aerospace business. Acceleration of Maximum Earnout Payments. the complete list of todays Zacks #1 Rank (Strong Buy) stocks here, Free: See Our Top Stock and 4 Runners Up >>, The Boeing Company (BA): Free Stock Analysis Report, AZZ Inc. (AZZ): Free Stock Analysis Report, Lockheed Martin Corporation (LMT): Free Stock Analysis Report, Eaton Corporation, PLC (ETN): Free Stock Analysis Report. On February 1, the Dublin, Ireland-based company said that it had reached a deal to buy Cobham Mission Systems a manufacturer of air-to-air refueling systems, environmental systems, and actuation, primarily for defense markets. During the Earnout Period, Parent shall, and shall cause its Affiliates, to use commercially reasonable efforts and act in good faith and fair dealing to maximize the Gross Revenues and devote sufficient and appropriate resources and personnel to maximize the Gross Revenues. Excluding the amount paid for tax benefits, the purchase price represents approximately 14 times CMSs 2020 EBITDA and 13 times its estimated 2021 EBITDA. With increasing global warming, companies across the globe are shifting to EV industry to look for sustainable options. DUBLIN, Ireland Power management company Eaton announced it has completed the acquisition of Tripp Lite. In 1923, Eaton bought the Torbensen Axle Co. back from Republic and changed the name to the Eaton Axle and Spring Company. Are the earnout milestone targets reasonably achievable in a reasonable time period? Obligations of Parent. In 2020, an employee sued Eaton Corp for retaliation and facilitating a climate of racial harassment. Create your Watchlist to save your favorite quotes on Nasdaq.com. eaton acquisitions 2021. junio 12, 2022. abc news anchors female philadelphia . Zacks Equity Research for Were very pleased to complete this significant investment in our core hydraulics business so we can serve our customers and partners even better than before. These cookies ensure basic functionalities and security features of the website, anonymously. This cookie is set by GDPR Cookie Consent plugin. Key products include manual and automated transmissions, clutches,[11] drive-line components, and hybrid power. Looking ahead, IHS Markit expects global EV sales to grow at 70% in 2021. Find and evaluate OEMs, Custom Manufacturers, Service Companies and Distributors. Eaton's hydraulics business will be combined with the Danfoss Power Solutions business segment, doubling the size of Danfoss' hydraulics . Cobham Mission Systems acquired by Eaton Electrical, Electrum Group Ltd. acquired by Eaton Electrical, E.A. The Torbensen Axle Company incorporated in Ohio in 1916, succeeding the New Jersey corporation. 19-3365 | Casetext Search + Citator", "Evans v. Eaton Corporation Long Term Disability Plan, C.A. (1) Non-U.S. based parent company that owns subsidiaries headquartered in U.S. (2) Company still exists but is no longer in the automotive manufacturing business, This page was last edited on 19 December 2022, at 00:23. The $13 billion acquisition of Cooper (US$5.4B Sales revenue -2011), became the largest in Eaton's (US$16B Sales Revenue-2011) 101-year history. Finally, on January 5, 2022, Eaton purchased Royal Power Solutions for $600 million. The new company is called Eaton Corporation plc and is incorporated in Ireland. The companys distribution channels have also been significantly boosted, while its local application support and geographical reach have increased considerably. The report also indicates that the air-to-air refueling market will increase from $501 million in 2020 to $851 million in 2025, primarily due to increasing demand for combat aircraft and military spending by various countries.Given the expected increase in global demand for air-to-air refueling, the above acquisition will expand Eatons offerings in a market that has the potential to further improve from the present level.