February 3, 2020
DUBLIN, Ireland … Power management company Eaton (NYSE:ETN) today announced it has agreed to acquire Power Distribution, Inc. (PDI), a leading supplier of mission critical power distribution, static switching, and power monitoring equipment and services for data centers and industrial and commercial customers. The company is headquartered in Richmond, Virginia, and had 2019 sales of $125 million.
“PDI’s portfolio is highly complementary to our current offering and will allow us to better serve our data center customers,” said Brian Brickhouse, president, Electrical Sector, Americas region, Eaton. “We have watched the growth of PDI for the last decade and are excited to have them become part of Eaton.”
The transaction is subject to customary closing conditions and is expected to close in the first quarter of this year. Terms of the transaction have not been disclosed.
Eaton’s mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power – more safely, more efficiently, and more reliably. Eaton’s 2018 revenues were $21.6 billion, and we sell products to customers in more than 175 countries. We have approximately 101,000 employees.
This news release contains forward-looking statements concerning the expected acquisition of Power Distribution, Inc. some of which are outside the company’s control. The following factors could cause actual results to differ materially from those in the forward-looking statements: unexpected difficulties satisfying closing conditions and failure to complete all required steps. We do not assume any obligation to update these forward-looking statements.
Contact: Katy Brasser, (440) 523-7076