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Danfoss to Acquire Hydraulics Business of Eaton for EUR 3bn
Friday 24 January 2020

24 January 2020 - Denmark-based refrigeration, air conditioning, heating, motor control and mobile machinery specialists Danfoss has entered into an agreement to acquire the hydraulics business of Irish power management provider Eaton Corp., for EUR 3bn (USD 3.3bn), adding EUR 2bn (USD 2.2bn) to the business segment, the company said.
The acquisition is fully in line with Danfoss' strategy to strengthen its core businesses and enhance customer value.
The combined business will also benefit customers and distributors by offering industry-leading technology and a much broader portfolio of hydraulic solutions. 
Eaton Hydraulics provides products for customers in markets such as agriculture, construction, and in industrial market segments.
The business will be transferred into the existing Danfoss business segment, Danfoss Power Solutions, which will double the hydraulics business. Danfoss has approximately 28,000 employees and 2019 sales of EUR 6.3bn (USD 7bn). 
Accordingly, with this transaction, Danfoss will increase its size by one-third.
Danfoss engineers advanced technologies used in areas such as refrigeration, air conditioning, heating, motor control and mobile machinery.
Details
Date Published: 24/01/2020
Target: Eaton/hydraulics business
Country: Ireland
Deal Size: 3.3bn (USD)
Sector: Machinery/Engineering
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor: Eaton
Buyer: Danfoss
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