Eaton sells its Hydraulics business to Danfoss

Power management company Eaton announced it has entered into an agreement to sell its Hydraulics business to Danish industrial company Danfoss, for $3,3 billion in cash. The amount represents a 13,2 multiple of 2019 Ebitda.

Eaton’s hydraulics business accounted for 86% of Eaton’s Hydraulics segment revenue in 2019, operating globally in hydraulics components, systems and services for industrial and mobile equipment. In 2019 the business had sales of $2,2 billion, and employed approximately 11.000 people. Eaton is retaining the Filtration and Golf Grip businesses currently reported in the company’s Hydraulics segment.

“This operation is part of the ongoing transformation of Eaton into a higher growth company with better earnings consistency – said Craig Arnold, Eaton chairman and chief executive officer -. We believe this transaction will create substantial value for our shareholders and allow our hydraulics employees to be part of a company that has a strong commitment to the hydraulics industry”.

On the other side, thanks to the combination of the knowledge and experience of the two companies, Danfoss’ customers will benefit from significantly increased expertise from a single partner.

Contenuti correlati

• 
  Filtration systems, UFI Filters Group acquires Friedrichs Filtersysteme

  UFI Filters Group, through its subsidiary UFI Filters Hydraulics S.p.A., announced the acquisition of 100% of shares of Friedrichs Filtersysteme GmbH. This German company manufactures hydraulic products for the industrial sector and has its headquarters and plant...
• 
  Filter elements Fai Filtri dedicated to the wind sector

  The Italian filtration specialist Fai Filtri expanded its product offering with the introduction of a special range of filters dedicated to the world of wind turbines. The new range of filters, which find their use in gearboxes...
• 
  Sustainability and efficiency in filtration with MP Filtri

  MP Filtri developed EliXir, a filter for mobile machines and industrial equipment applications that ensures longer life to machinery and increased sustainability. The EliXir low pressure concept filters have been especially designed for in-line connections and to...
• 
  Multi-stage ultra-fine filter system Lehmann at EMO 2019

  Lehmann-UMT is to present at EMO 2019 (hall 7, booth B22) an innovative multi-stage ultra-fine filter system for crystal clear treatment of oils and emulsions, processing materials such as high-performance high-speed steel (HSS), tungsten carbide and glass...
• 
  New Parker Bioscience division for bioprocessing

  Parker Hannifin launched its new Parker Bioscience division, for delivery of bioprocessing, food  beverage and healthcare solutions that previously operated under the Parker domnick hunter brand. The division has sites in Birtley, UK, and Oxnard, California, and...
• 
  Russian branch opening for Fai Filtri

  Fai Filtri strengthens its presence in Russia with a new branch located north from Moscow, in the important commercial area of Dolgoprudny, near Sheremetyevo International Airport. The Italian company, specialized in the production of filters and filter elements,...
• 
  Manual dry paint overspray system Dürr

  Dürr introduced a manual dry paint overspray separation system EcoDry X, a multi-stage and easy-to-handle filter system. EcoDry X is the counterpart to the established and fully automatic EcoDryScrubber, expanding Dürr’s family that permits differentiated technical solutions...
• 
  Vacuum filter SMC for large flows

  SMC unveiled series AFJ vacuum filter for large flows that removes both dust and water droplets, extending the life of pneumatic systems. The AFJ series is suitable for a wide range of applications and can operate under...