Eaton to acquire COL Group for €810 million

Eaton Corporation plc has agreed to acquire Italian switchgear manufacturer COL Group from Oaktree’s Power Opportunities strategy for an enterprise value of €810 million. The deal is intended to expand Eaton’s power distribution manufacturing and engineering capabilities across Europe, the Middle East, and Africa.

COL Group specializes in medium-voltage electrical distribution products, including grid automation technology, modular power systems, and sulfur hexafluoride-free (SF₆-free) switchgear. The acquisition aims to meet rising demand for electrical infrastructure from utilities and data centers, driven by the expansion of artificial intelligence and cloud computing.

COL Group, which employs approximately 400 people, operates facilities in Turin, Milan, Bergamo, and Catania. The company has forecasted sales of approximately €250 million for 2027. The transaction is expected to close in the first quarter of 2027, pending regulatory approvals and customary closing conditions.