Signify to Purchase Cooper Lighting from Eaton

LDS 7 CS Signify 400

Oct 16, 2019

Eaton has entered into an agreement to sell its recently named Lighting business, Cooper Lighting, to Signify for a cash purchase price of $1.4 billion. The decision to sell the Lighting business comes after completing a comprehensive review of various potential transaction alternatives to maximize shareholder value.

Eaton’s Lighting business is one of the world’s leading providers of LED lighting and control solutions. Its broad range of innovative products and systems are designed to maximize performance and energy efficiency. The business, which had sales of $1.7 billion in 2018, serves customers in commercial, industrial, residential and municipal markets.

“Today’s announcement is another example of how we are actively managing our portfolio to create value for our shareholders,” said Craig Arnold, Eaton chairman and chief executive officer.

The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the first quarter of 2020. Goldman, Sachs & Co. LLC., is acting as financial advisor to Eaton.

Source

Related Articles

BCEA Welcomes New Member CDm2 Lightworks

BCEA Welcomes New Member CDm2 Lightworks

July 31, 2023 CDm2 Lightworks is a leading provider of innovative, fully integrated, cost-effective, and sustainable lighting solutions to its specification, construction, and end-user customers. the company operates in British Columbia, Canada, catering to both local and global projects. CDm2 Lightworks specializes in delivering high-quality lighting solutions that meet the unique requirements of its diverse…

Leviton

Leviton Canada Achieves Another Year of Carbon Neutrality

September 15, 2024 Leviton Canada proudly reaffirms its commitment to sustainability by achieving carbon neutrality once again in 2023. The company has significantly reduced their environmental footprint by 32% compared to 2022, with a substantial impact on transportation. Despite having energy-efficient lighting and relying on hydropower—a clean and renewable energy source—for their facility, transportation (both…

MMDA Secures $3 Million from NRCan to Enhance Manitoba’s EV Charging Infrastructure 

MMDA Secures $3 Million from NRCan to Enhance Manitoba’s EV Charging Infrastructure 

September 7, 2023 The Manitoba Motor Dealers Association is thrilled to announce its continued partnership with Natural Resources Canada’s (NRCan) Zero Emission Vehicle Infrastructure Program (ZEVIP). In a significant move towards a cleaner, greener Manitoba, MMDA has secured an additional $3 million in funding from NRCan. The fund will support MMDA’s ‘Lead The Charge‘ Program,…

Latest Articles

Changing Scene

  • Federal Investment to Add 989 New Montreal Homes

    Federal Investment to Add 989 New Montreal Homes

    November 18, 2024 The federal government is providing nearly $364 million to help build 989 new homes in Montreal. The announcement took place at 5200 rue de la Savane, in Montreal, which received $100 million dollars through the Apartment Loan Construction Program (ACLP) to build 303 homes and will be operated by Olymbec. This rental building, named Lynk, is designed to… Read More…

  • ABB and NIEDAX Group Announce Completion of Joint Venture with the Formation of Abnex Inc.

    ABB and NIEDAX Group Announce Completion of Joint Venture with the Formation of Abnex Inc.

    November 18, 2024 ABB completed the previously announced 50/50 joint venture with Niedax Group. The Abnex Inc. joint venture (JV) will broaden solutions and advance opportunities in the rapidly growing North American cable management market. Integrating engineering and manufacturing capabilities of ABB’s Installation Products Division with Niedax Group will enable the newly formed company to deliver a… Read More…

  • Ontario Building More Electric Vehicle Charging Stations

    Ontario Building More Electric Vehicle Charging Stations

    November 18, 2024 The Ontario government is building over 1,300 new electric vehicle (EV) charging ports in small and medium-sized communities, marking a major milestone in the province’s plan to increase access to EV chargers outside of large urban centres and support the electrification of transportation across the province. As the province continues to see… Read More…

  • Ontario Investing Over $74 Million Through Next Round of Skills Development Fund Capital Stream

    Ontario Investing Over $74 Million Through Next Round of Skills Development Fund Capital Stream

    November 18, 2024 The Ontario government is launching the second round of its Skills Development Fund (SDF) Capital Stream starting November 29, with over $74 million in available funding to build, expand and retrofit training facilities for workers in the trades, including construction, manufacturing technology and health care. The government is also investing nearly $5 million from the first… Read More…