Mexico. Eaton signed an agreement to acquire Tripp Lite, a leading provider of power quality products and connectivity solutions including single-phase uninterruptible power supply systems, power distribution rack units, surge protectors and data center cabinets for industrial, medical and communications markets in the Americas. Founded nearly 100 years ago, the company is headquartered in Chicago, Illinois.
Under the terms of the agreement, Eaton will pay $1.65 billion, representing approximately 12 times Tripp Lite's 2020 EBITDA and 11 times the estimated EBITDA for 2021.
"The acquisition of Tripp Lite will enhance the breadth of our edge computing and IT product portfolio, and expand our single-phase UPS business," said Uday Yadav, president and chief operating officer of Eaton's Electrical Sector. "We look forward to welcoming Tripp Lite to the Eaton family."
Eaton's mission is to improve the quality of life and the environment through the use of energy management technologies and services. It provides sustainable solutions that help its customers effectively manage electrical, hydraulic and mechanical energy, more safely, efficiently and reliably.
Eaton's 2019 revenue was $21.4 billion and it sells products to customers in more than 175 countries. It has approximately 92,000 employees.
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