M&A Deal Summary

Eaton Acquires Royal Power Solutions

On January 5, 2022, Eaton acquired manufacturer Royal Power Solutions from Industrial Growth Partners for 600M USD

Acquisition Highlights
  • This is Eaton’s 5th transaction in the Manufacturing sector.
  • This is Eaton’s 8th largest (disclosed) transaction.
  • This is Eaton’s 26th transaction in the United States.
  • This is Eaton’s 2nd transaction in Illinois.

M&A Deal Summary
Date 2022-01-05
Target Royal Power Solutions
Sector Manufacturing
Buyer(s) Eaton
Sellers(s) Industrial Growth Partners
Deal Type Add-on Acquisition
Deal Value 600M USD

Target

Royal Power Solutions

Carol Stream, Illinois, 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. Royal Power Solutions was founded in 1938 and is headquartered in Carol Stream, Illinois.

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Buyer(S) 1

Buyer

Eaton

Dublin, Ireland
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 56 of 59
Sector (Manufacturing) 5 of 6
Type (Add-on Acquisition) 37 of 38
State (Illinois) 2 of 2
Country (United States) 26 of 27
Year (2022) 1 of 1
Size (of disclosed) 8 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-26 Yineng Group - Busway business

Yangzhong, China

Yineng Group's Busway business manufactures and markets busway products. Yineng Group's Busway business is based in Yangzhong, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-24 Ryan

Jiangsu, China

Ryan is a manufacturer of power distribution and sub-transmission transformers in China. The company is focused on dry-type transformers, a sizeable and growing market amid the rapidly expanding renewable energy base and increasing electricity consumption around the world. its products are widely used and recognized by customers in renewable energy, data center, utility and industrial markets. Ryan is based in Jiangsu, China.

Buy -

Seller(S) 1

SELLER

Industrial Growth Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 3.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Industrial Growth Partners (IGP) is a private equity firm that invests in privately held, lower middle-market manufacturing and manufacturing services companies. Specific areas of interest include industrial components and equipment, electrical and electronic equipment, process instrumentation and controls, analytical instruments and measuring devices, filtration and pumps, specialty chemicals, plastics, and healthcare/safety equipment. Prospective transaction situations include management buyouts, leveraged buyouts, corporate divestitures, recapitalizations, management buy-ins, and growth capital financings. Target companies typically are profitable and have annual revenues up to $250 million. IGP was formed in 1997 and is based in San Francisco, California.

DEAL STATS #
Overall 28 of 34
Sector (Manufacturing) 4 of 4
Type (Add-on Acquisition) 13 of 18
State (Illinois) 2 of 2
Country (United States) 28 of 33
Year (2022) 1 of 2
Size (of disclosed) 2 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-05 AdvancedPCB

Santa Clara, California, United States

AdvancedPCB is a manufacturer of high reliability, technologically advanced, quick-turn printed circuit board prototypes for aerospace and defense, industrial, and consumer electronics companies. The company offers its customers world-class cycle times and quality, robust engineering capabilities, and comprehensive global program management. AdvancedPCB was founded in 1977 and is based in Santa Clara, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-08 SPL

Houston, Texas, United States

SPL is an independent provider of critical outsourced hydrocarbon measurement, analysis, and reporting services for oil and gas production and transport in the United States. The Company provides a comprehensive suite of gas and liquid laboratory tests and related field services from its network of 8 labs and 14 field service locations across the U.S. and counts leading independent and major exploration and production companies, as well as midstream operators, among its customers. SPL’s test and measurement services enable its customers to evaluate the composition of the hydrocarbons they are producing to fine-tune production from wells, market products downstream, meet regulatory reporting requirements, and ensure accurate payment of royalties to leaseholders. Southern Petroleum Laboratories was founded in 1944 and is based in Houston, Texas.

Sell -
Mergr

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