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

Windcutter

Sauer Energy Partners with North Wind Power

 

Sauer Energy Inc. has announced that they have entered into a strategic alliance with North Wind Power, Inc. a Canadian Corporation, located in Newfoundland and Labrador, Canada. This collaboration enables SEI to advance the use of wind energy.  SEI and NW have submitted a proposal concept to Natural Resources Canada and have been confirmed for formal proposal submission.  Successful selection would see installations commence in April 2018.  We are confident with our submission because it is the only turbine in its class that has successfully completed certification analysis.

 

EIN EDA new logo 400

Local Hydro Utilities Earn Top Honours at the Electricity Distributors Association Excellence Awards

 Top-performing distribution utilities from across Ontario were honoured yesterday at the Electricity Distributors Association (EDA) Awards Gala. This annual program acknowledges an array of key accomplishments, outstanding customer service and environmental programs, innovations and best practices on the part of the companies that deliver the Power of Local Hydro across Ontario. 

 

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…