Eaton Buying Power & Connectivity Supplier Tripp Lite for $1.7B

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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, and communications markets in the Americas.

Founded nearly 100 years ago, the company is headquartered in Chicago. 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.

Eaton provides solutions that help 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 sells products to customers in more than 175 countries. Eaton has approximately 92,000 employees.

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