Eaton plans to spin off lighting business
March 6, 2019 – Eaton, known for its power management products, intends to spin off its lighting business as an independent, publicly traded company by the end of the year.
By Peter Saunders
The business, which provides LED products (example pictured) and control systems to customers in commercial, industrial, municipal and residential markets, reportedly enjoyed sales of US$1.7 billion in 2018. Eaton’s overall sales for the same year were reportedly US$21.6 billion.
Goldman Sachs is serving as financial advisor for the potential transaction, which was discussed last week during the company’s annual investor conference.