M&A Deal Summary

DRS Technologies Acquires Eaton Corp - Navy Controls Business

On May 28, 2002, DRS Technologies acquired electrical equipment company Eaton Corp - Navy Controls Business from Eaton for 92M USD

Acquisition Highlights
  • This is DRS Technologies’ 1st transaction in the Electrical Equipment sector.
  • This is DRS Technologies’ largest (disclosed) transaction.
  • This is DRS Technologies’ 1st transaction in the United States.

M&A Deal Summary
Date 2002-05-28
Target Eaton Corp - Navy Controls Business
Sector Electrical Equipment
Buyer(s) DRS Technologies
Sellers(s) Eaton
Deal Type Divestiture
Deal Value 92M USD

Target

Eaton Corp - Navy Controls Business

United States
Eaton Corp - Navy Controls Business which manufactures shipboard integrated electrical power distribution and control systems for the U.S. Navy, has 600 employees at facilities in Milwaukee, Wisconsin, and Danbury, Connecticut.

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Buyer(S) 1

Buyer

DRS Technologies

Arlington, Virginia, United States

website

Category Company
Founded 1968
Sector Aerospace
Employees10,200
DESCRIPTION

DRS Technologies is a supplier of integrated products, services and support to military forces, intelligence agencies and prime contractors worldwide and is a recipient of the Defense Security Service Award for Excellence in Counterintelligence as well as three James S. Cogswell Awards for Outstanding Industrial Security Achievement.

DEAL STATS #
Overall 1 of 2
Sector (Electrical Equipment) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 2
Year (2002) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-11-04 Integrated Defense Technology

Huntsville, Alabama, United States

Integrated Defense Technologies is a developer and provider of electronic and technology products to the defense and intelligence industries. The company's products are installed on or used in support of an array of military platforms.

Buy -

Seller(S) 1

SELLER

Eaton

Dublin, Ireland

website

Category Company
Founded 1911
Sector Electrical Equipment
Employees92,000
Revenue 23.2B USD (2023)
DESCRIPTION
Eaton's operational headquarters in Beachwood, Ohio.
Eaton's operational headquarters in Beachwood, Ohio.

Eaton is a diversified power management company specializing in electrical, aerospace, hydraulic, and vehicle technologies. Eaton offers a broad portfolio of solutions designed to address the complex challenges of modern industries and infrastructure. Their products encompass a wide range, including electrical distribution and control equipment, energy management systems, aerospace components and systems, hydraulic systems and services, and automotive drivetrain and powertrain systems. Eaton's operational headquarters are in Beachwood, Ohio and its business headquarters is in Dublin, Ireland.

DEAL STATS #
Overall 7 of 11
Sector (Electrical Equipment) 2 of 2
Type (Divestiture) 7 of 9
Country (United States) 6 of 9
Year (2002) 1 of 1
Size (of disclosed) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-07-03 Transmisiones TSP S.A. de C.V.

Queretaro, Mexico

Transmisiones TSP, S.A. de C.V. is a manufacturer and seller of automotive products in Mexico.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-07 Ultronics

Cheltenham, United Kingdom

Ultronics Ltd. is a provider of electro-hydraulic control valves, systems and software technology are utilized in mobile applications in construction, forestry, agriculture and other markets.

Buy -
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