Terms and Conditions, This acquisition brought Delta's brands Holec, MEM, Tabula, Bill and Elek under the Eaton nameplate[13] with the previous Westinghouse divisions and gave the company manufacturing facilities to meet IEC standards, one of the steps to become a global company and developing a worldwide standard. By using this site, you agree to our, Contracted to Provide Interconnection Equipment to the Pentagon, Tabet Expands in Virginia, Nucor Announces $125 Million Alabama Factory, Semiconductor Maker Announces $880 Million Colorado Expansion, Lockheed Martin Lands U.S. Navy Contract Worth Up to $2 Billion, Kentucky University Launches Manufacturing Engineering Program, Lockheed Martin's Military Jet Is First to Fly Using AI, Ford Is Building a $3.5 Billion EV Battery Plant in Its Home State, Semiconductor Maker Relocates to South Carolina with $440 Million Headquarters, Boeing Reveals Stealthy Tactical Cargo Plane, Auto Supplier Announces $50 Million Expansion in South Carolina, Hundreds of EV Chargers Will Be Future-proofed This Year, GE Appliances Plans $50 Million Facility in South Carolina, How to Recession-proof Your Industrial Career, Startup Raises $17 Million to Make Autonomous Driving Safer, 6 Questions to Ask Before Customizing Your Factory Robots, Quality from the Start: ElectroFin Coatings for Dehumidifier Coils Available at No Additional Cost. Eaton Corp. on Feb. 1 announced the acquisition of air-to-air refueling systems maker Cobham Mission Systems (CMS) for $2.8 million, in move to grow its aerospace business . Uday Yadav, who was COO for electrical sector, has moved on to take role of CEO in TKelevator. Today, you can download 7 Best Stocks for the Next 30 Days. Introduce tu correo electrnico para suscribirte a Opportimes y recibir avisos de nuevas entradas. [20], On 17 Mar 2021, Eaton completed the acquisition of Tripp Lite for $1.65 billion. In 1978, Eaton Corporation acquired Samuel Moore & Company, Kenway Systems, and Cutler-Hammer. All of these benefits will enable Danfoss Power Solutions to become an even stronger technology partner for existing and new customers, plus take the lead in digitalization and electrification. After several years of co-branding UPS products "Eaton|Powerware" the company is switching to the single brand Eaton for all UPS products including; BladeUPS, 9355, 9390, 9395, and 9E. Combining the two robust businesses represents a perfect match and provides countless opportunities, such as increasing our engineering expertise and capabilities, doubling our global application support and extending the value of our Application Development Centers and digital design tools. In 1958 Eaton Corporation acquired Fuller Manufacturing. D04 Y0C2 The buyer does not want to be hampered by unduly harsh restrictions, covenants, or seller protective provisions. The deal, which closed in July 2021, was an extremely rare move for SpaceX. On this Wikipedia the language links are at the top of the page across from the article title. You can see the complete list of todays Zacks #1 Rank (Strong Buy) stocks here.AZZ s current dividend yield is 1.3%. Mobile hydraulics has been one of Danfoss core and most successful businesses for over 50 years. Combining the two robust businesses represents a perfect match and provides countless opportunities, such as increasing our engineering expertise and capabilities, doubling our global application support and extending the value of our Application Development Centers and digital design tools. In 1911, Joseph O. Eaton, brother-in-law Henning O. Taube and Viggo V. Torbensen, incorporated the Torbensen Gear and Axle Co. in Bloomfield, New Jersey. This is worth $72 per share based on Eaton's closing share price of $42.40 on 18 May 2012, and is 29% above Cooper's closing stock price. These cookies will be stored in your browser only with your consent. Key products include manual and automated transmissions, clutches,[11] drive-line components, and hybrid power. Are the earnout milestone targets reasonably achievable in a reasonable time period? The Torbensen Axle Company incorporated in Ohio in 1916, succeeding the New Jersey corporation. Within 90 days following the end of each Earnout Period, Parent shall cause the Surviving Corporation to prepare and deliver to the Securityholder Representative a statement of the EBITDA for the Company Business for such prior Earnout Period (each such statement an EBITDA Statement). [24] They reincorporated, as a means of reducing their U.S. corporate tax burden, in Ireland as part of the Cooper merger involved establishing a registered head office in Dublin, Ireland but operational headquarters remain in Beachwood. As stated by a CNBC report, President Biden is supportive of a rebate program, wherein American car buyers could trade their older vehicles for new EVs. No Offset. In the past six months, shares of Eaton have gained 14.2% compared with the industry?? Second, an earnout can work as a motivational and retention mechanism for the sellers key management team to continue operating the business successfully after the acquisition has closed. Mike Toth of Haig Partners, a buy-sell firm in Fort Lauderdale, Fla., represented the seller in the transaction. Type a symbol or company name. Pulizzi Engineering acquired by Eaton Electrical Pulizzi Engineering Eaton Electrical Aug 1, 2007 4. sold Eaton - Hydraulics Business to Danfoss A/S for $3.3B. The Company Business must achieve at least ___% of the EBITDA Target in the year in which it is payable in order to obligate Parent to pay any Earnout Payment for such Earnout Period. In the event they are unable to mutually agree, the arbitrator shall be selected by the procedures prescribed by the JAMS Rules. Don't miss a thing! In 1923, Eaton bought the Torbensen Axle Co. back from Republic and changed the name to the Eaton Axle and Spring Company. Finally, on January 5, 2022, Eaton purchased Royal Power Solutions for $600 million. CMS is a leading manufacturer of air-to-air refueling, environmental and actuation systems primarily for the defense markets. Excluding the amount paid for tax benefits, the purchase price represents approximately 14 times CMSs 2020 EBITDA and 13 times its estimated 2021 EBITDA. This cookie is set by GDPR Cookie Consent plugin. It reported revenue of $19.6 billion in 2021 and serves clients in more than 170 countries. The cookie is used to store the user consent for the cookies in the category "Analytics". Contact: Katy Brasser, (216) 232-8869 Company News and insights News releases 2021 Eaton acquires Green Motion SA, expanding electric vehicle charging capabilities Acceleration of Maximum Earnout Payments. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Eaton's hydraulics business will be combined with the Danfoss Power Solutions business segment, doubling the size of Danfoss' hydraulics . Finally, on January 5, 2022, Eaton purchased Royal Power Solutions for $600 million. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. Eatons hydraulics business will be combined with the Danfoss Power Solutions business segment, adding approximately 10,000 employees worldwide and US$1.8 billion (around 1.5 billion) in 2020 global sales. We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them. Power management company Eaton today announced it has completed the acquisition of Cobham Mission Systems. Cobham Mission Systems acquired by Eaton Electrical, Electrum Group Ltd. acquired by Eaton Electrical, E.A. In December 2020, Eaton completed the acquisition of Chicago-based Tripp Lite, which is helping the company expand the Power Quality Business in the Americas. The company's filing status is listed as Active and its File Number is 4743425. This website uses cookies to improve your experience while you navigate through the website. A year later, in 1920, Eaton Axle Company merged with Standard Parts. Pedersen Co. acquired by Eaton Electrical, Cooper Industries acquired by Eaton Electrical, Oxalis Group acquired by Eaton Electrical, Integrated Partial Discharge Diagnostics acquired by Eaton Electrical, Green Motion acquired by Eaton Electrical, Arrow Hose & Tubing acquired by Eaton Electrical, Integrated Hydraulics acquired by Eaton Electrical, Moeller Holding Gmbh & Co. KG acquired by Eaton Electrical, Schreder-Hazemeyer acquired by Eaton Electrical, Marina Power and Lighting acquired by Eaton Electrical, Aphel Technologies acquired by Eaton Electrical. Necessary cookies are absolutely essential for the website to function properly. Cobham has five business units: Advanced Electronic Solutions, Aviation Services Australia, Aviation Services UK, Communications and Connectivity, and Mission Systems. To the extent that ___% or less of the EBITDA Target is met during any Earnout Period, the Company Stockholders shall lose the right to receive any Earnout Payment for such Earnout Period. We have approximately 92,000 employees. The provisions of this Section _____ are a material part of this Agreement and a major inducement to the Stockholders agreeing to the Merger.. Thecombined product portfolio and broadened global reachwill better serve customers and distributors all around the world., For more informationDanfoss Media RelationsTel: + 45 70 20 44 88. [32] The move was later denounced by both President Obama and President Donald Trump. Eaton equipment trailer in Stockholm, Sweden. We will continue our significant investments to stay on the forefront of technology leadership and provide solutions that improve productivity and reduce emissions to meet the requirements of the future., The need for technologically innovative and industry-changing hydraulic solutions is as great as ever. This cookie is set by GDPR Cookie Consent plugin. Welcome to Thomas Insights every day, we publish the latest news and analysis to keep our readers up to date on whats happening in industry. [14] This was followed in 2004 by the acquisition of Powerware. Buyers view earnouts as providing several benefits. Required fields are marked *. The new company is called Eaton Corporation plc and is incorporated in Ireland. Tripp Lite was an American supplier of power quality products and connectivity solutions, that was acquired by Eaton last year. Eaton's hydraulics business will be combined with the Danfoss Power Solutions business segment, doubling the size of Danfoss' hydraulics . It has also divested 11 assets. Green Motion SA was acquired for $106 million, including $49 million in cash paid at closing and $57 million of estimated fair value of contingent future consideration based on 2023 and 2024 revenue performance. Based in the United States, Royal Power Solutions is a manufacturer of high-precision electrical connectivity components used in the electric vehicle, energy management, industrial and mobility markets. Thecombined product portfolio and broadened global reachwill better serve customers and distributors all around the world., For more informationDanfoss Media RelationsTel: + 45 70 20 44 88. Eaton Corporation ETN announced that it has completed the acquisition of Cobham Mission Systems, a manufacturer of air-to-air refueling systems, which will allow Eaton to further expand the Aerospace business. Eaton manufacturing plant in Eden Prairie, Minnesota. News September 16, 2021 at 09:37 AM Share & Print What You Need to Know Deals with E-Trade, Eaton Vance and others have grown the firm's base to 14 million relationships with $8 trillion in. Eaton's aerospace business contributed 12.5% of total revenues in 2020 and these acquisitions will surely increase the contribution from this segment going forward. Morgan Stanley (NYSE: MS) and Eaton Vance Corp. (NYSE: EV) announced today that the companies currently expect to complete Morgan Stanley's acquisition of Eaton Vance on March 1, 2021 pursuant to the merger agreement dated as of October 7, 2020 (the "Merger Agreement"). From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.You know this company from its past glory days, but few would expect that its poised for a monster turnaround. Zacks->. Open Systems International, Inc. (OSI Inc.) In August 2020, Emerson announced an agreement to acquire Open Systems International, Inc. (OSI Inc.) for $1.6 billion in an all-cash transaction. This cookie is set by GDPR Cookie Consent plugin. All Rights Reserved. Were very pleased to complete this significant investment in our core hydraulics business so we can serve our customers and partners even better than before. Eaton will pay $1.65 billion for Tripp Lite, which was founded in 1922. Danfoss grows by a third and establishes itself as a global leader in mobile and industrial hydraulics. Eaton hybrid power systems: mounted between the UltraShift automated manual transmission and clutch is an electric motor/generator, connected to a power inverter using lithium ion batteries, controlled with an electronic control module. But opting out of some of these cookies may affect your browsing experience. But Eaton and Torbensen were not content and bowed out of Republic to form the Eaton Axle Company in 1919. An earnout is a contractual mechanism in a merger or acquisition agreement, which provides for contingent additional payments from a buyer of a company to the sellers shareholders. By 2020, it's predicted to blast through the roof to $77.6 billion. By 1932, the diversified company changed its name to Eaton Manufacturing Company. Eaton's automotive segment produces products such as superchargers, engine valves, valve train components, cylinder heads, locking and limited-slip differentials, heavy-duty drive-line components, fuel, emissions, and safety controls, transmission and engine controls, spoilers, exterior moldings, plastic components, and fluid connectors. All such initiatives will help in rapid conversion of high carbon footprint creating vehicles and boost sales of EVs.According to EV-Volumes.com report, 2020 EV sales in the United States fared better than the auto market, with Tesla TSLA dominating the market. We look forward to welcoming Tripp Lite to the Eaton family.. The company's principal address is 978 Rincon Circle . The company name changed once again in 1965 to Eaton Yale & Towne Inc. after the acquisition of Yale & Towne Manufacturing Co. in 1963. was notified to the Commission on 17 August 2020 and the Commission opened an in-depth investigation on 21 September 2021. 2012, page 3C, Corporation tax in the Republic of Ireland#Corporate tax inversions, "Eaton Corporation plc 2021 Annual Report (Form 10-K)", "A Brief but Sad History of Selected Corporate Inversions", https://www.eaton.com/us/en-us/company/about-us/our-heritage.html, "Eaton Corp. to complete move to new Beachwood campus by Feb. 18", http://www.manufacturingnews.com/subscribers/users_orig.cgi?mfgnews_username=mbg&flag=read_article&id_title=1&id_article=581&id_issue=34&id_sub=459&id_sl=, "Hybrid Electric Vehicle Systems Overview", "Clutches for linehaul and vocational trucks", "Eaton buys Delta plc's electrical division based in United Kingdom", "Cutler-Hammer in joint venture between Eaton, Caterpillar", "Eaton Announces Acquisition of Aphel Technologies Limited", "Eaton Expands Power Quality Offerings With Acquisition of Pulizzi Engineering", "Eaton To Acquire MGE's Small Systems Business From Schneider Electric", "Eaton completes $11.46B deal for Cooper Industries - Businessweek", "Eaton completes the acquisition of Tripp Lite, expanding Eaton's power quality business in the Americas", "Danfoss Formally Completes US$3.3 Billion Acquisition of Eaton's Hydraulics Business", "Eaton Corporation Relocated World Headquarters to Beachwood; Puts City on Map for Economic Development", "Eaton Names Heath Monesmith President and Chief Operating Officer, Electrical Sector, and Paulo Ruiz Named President and Chief Operating Officer, Industrial Sector, Effective July 5, 2022", "Uday Yadav appointed new CEO of TK Elevator predecessor Peter Walker to retire", "Vindication, at Long Last: Ex-Employer Must Pay Homeless Man $1.25 Million for Racial Harassment", "Company faces serious allegations of racial harassment and retaliation", "Outward v. Eaton Corp. From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. CMS is a leading manufacturer of air-to-air refueling, environmental and actuation systems primarily for the defense markets. eMobility sector combines elements of Eaton's electrical and vehicle businesses to deliver electric vehicle solutions to passenger car, commercial vehicle and off-highway OEMs. ?s 11.5% rally. The companys distribution channels have also been significantly boosted, while its local application support and geographical reach have increased considerably. Join Mergr and gain access to Eatons M&A summary, the M&A summaries of companies just like it, as well as recent M&A activity in the electrical equipment sector. Your email address will not be published. Sign up here to get the days top stories delivered straight to your inbox. Danfoss President and CEO Kim Fausing commented on the acquisition: Eric Alstrm, President of Danfoss Power Solutions, said: Paulo Ruiz, the President of the former Eaton hydraulics business, added: Danfoss formally completes US$3.3 billion acquisition of Eatons hydraulics business. Electrical and Industrial | Power management solutions | Eaton Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Earnouts often lead to disputes between the seller and buyer as to whether the earnout was in fact earned or whether the buyer improperly prevented the earnout from being maximized. All Rights Reserved. How can the seller protect itself from the buyer manipulating the financial metrics of the business in a way that adversely affects the earnout payments. Eaton has acquired in 15 different US states, and 18 countries. Earnout Periods means (i) the period commencing on January 1, ___, and ending on December 31, ___, [and] (ii) the period commencing on January 1, ___, and ending on December 31, ___, and (iii) the period commencing on January 1, ___, and ending on December 31, ___. Earnouts are primarily used in connection with acquisitions of privately held companies, although in some rare instances earnouts are incorporated in acquisitions of publicly held companies. Swarm which [] SpaceX's acquisition of Swarm is paying off with new Starlink thrusters Stockholders approved the change to the company's current name in 1971. A preferred dispute resolution mechanism is confidential binding arbitration in order to avoid long and costly litigation. The Earnout Payment shall be a minimum of $______ per month. Eaton is a power management company providing energy-efficient solutions that help our customers effectively manage electrical, hydraulic and mechanical power. Eaton's acquisition of Tripp Lite is expected to close in the middle of 2021. Do Not Sell My Personal Information (CA Residents Only). Danfoss President and CEO Kim Fausing commented on the acquisition: Eric Alstrm, President of Danfoss Power Solutions, said: Paulo Ruiz, the President of the former Eaton hydraulics business, added: Danfoss formally completes US$3.3 billion acquisition of Eatons hydraulics business. Were very pleased to complete this significant investment in our core hydraulics business so we can serve our customers and partners even better than before. Tripp Lite is a leading provider of power quality products and connectivity solutions including single-phase uninterruptible power supply systems, rack power distribution units, surge protectors, and cabinets for the data center, industrial, medical, industrial, medical and communications markets in America. Industrial Growth Partners V, L.P. acquired RPS in 2017. To this end, it is imperative to mention that strong support from the U.S. administration in terms of tax incentives and government funding has been boosting EV growth in the nation. By clicking Accept, you consent to the use of ALL the cookies. [5] Eaton has more than 86,000 employees and sells products to customers in more than 175 countries.[6]. [7][8][citation needed]. No. Get the latest industry news delivered straight to your inbox, every Tuesday through Friday. Standard Parts went in receivership later the same year and was later liquidated. Danfoss has officially finalized its US$3.3 billion (approximately 3 billion) acquisition of Eatons hydraulics business following confirmation of all necessary regulatory approvals and closing conditions. EBITDA means the earnings before interest, income taxes, depreciation and amortization of the Company Business for the applicable fiscal period ended, calculated according to generally accepted accounting principles as consistently applied to Purchasers financial statements. Eaton Electrical Feb 1, 2021 2. Richard D. Harrochis a Managing Director and Global Head of M&A at VantagePoint Capital Partners, a venture capital fund in the San Francisco area. Copy and paste multiple symbols separated by spaces. Any disputes regarding Earnout Payments will be handled through confidential binding arbitration pursuant to Section _____ of this Agreement. In its own words, by capitalizing on the global growth trends of electrification and digitalization, the company is accelerating the planets transition to renewable energy, helping to solve the worlds most pressing energy management challenges and doing its best to its interest groups and society as a whole. The main markets for the Electrical Americas and Electrical Rest of World segments are industrial, institutional, government, utility, commercial, residential, information technology and original equipment manufacturer customers. The Vehicle Group comprises the company's truck and automotive segments, including the Roadranger division providing:[9]. Founded in 1911, Eaton has been listed on the New York Stock Exchange for nearly a century. Eaton currently has a Zacks Rank #2 (Buy).Some other top-ranked stocks in the same industry include Emerson Electric Co. EMR and Regal Beloit Corporation RBC. Zacks Equity Research for Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Each Earnout Payment installment shall be comprised of cash assuming 100% or more of the applicable Earnout EBITDA Target is met. On June 1, 2021, Eaton acquired Cobham Mission Systems (CMS) for $2.8 billion, net of cash received. On June 1, 2021, Eaton acquired Cobham Mission Systems (CMS) for $2.8 billion, net of cash received. A wealth of resources for individual investors is available at www.zacks.com. Founded in 1911, Eaton has been listed on the NYSE for nearly a century. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. An earnout can be useful if the parties are having difficulty reaching agreement on an upfront cash price, with the earnout as a way of bridging the different views on valuation of the buyer and seller. Eatons largest acquisition to date was in 2012, when it acquired Cooper Industries for $11.8B. Judge Bobby DeLaughter was sentenced to 18 months in prison.[34][35]. This is a great day for Danfoss as we welcome 10,000 new colleagues into the organization and create a global leader in mobile and industrial hydraulics. Eaton House 30 Pembroke Road, Back when Eaton Corp was struggling with bankruptcy, various employees on long-term benefits suddenly found themselves terminated. Since earnout provisions often lead to disputes, the parties should have a clear mechanism for resolving disputes. Adding fluid conveyance and industrial applications are other assets gained through this transaction., This is an exciting new chapter for both of our businesses and our people, which are stronger together. (1) Non-U.S. based parent company that owns subsidiaries headquartered in U.S. (2) Company still exists but is no longer in the automotive manufacturing business, This page was last edited on 19 December 2022, at 00:23. Last year, it generated $24 billion in global revenues. [29] Eaton had failed to insure the plan that the employees had nonetheless paid for. Emps., No. The cookie is used to store the user consent for the cookies in the category "Other. 19-3365 | Casetext Search + Citator", "Evans v. Eaton Corporation Long Term Disability Plan, C.A. If the Company Business meets ___% or more of the applicable EBITDA Earnout Target, the actual percentage of the EBITDA Earnout Target obtained by the Company Business shall equate to the percentage of the total amount of Earnout Payment due for such Earnout Period up to 100%, in which case the entire amount of the applicable Earnout Payment would be due. ?s long-term (three to five years) earnings growth is currently projected at 9.8%, and 10%, respectively.Emerson Electric and Regal Beloit?? Zacks Investment Research. The acquisition, which is subject to customary closing conditions, is expected to close mid-2021. Beginning on January 29, 2021, election forms and accompanying instructions were mailed to Eaton Vance shareholders of record as of January 22, 2021. March 24, 2021. Tripp Lite is a leading supplier of power quality products and connectivity solutions including single-phase uninterruptible power supply systems, rack power distribution units, surge protectors, and enclosures for data centers, industrial, medical, and communications markets in the Americas. Under the terms of the agreement, Eaton will pay $2.83 billion for CMS, inclusive of $130 million in tax benefits. ?s Electric delivered a trailing four-quarter earnings surprise of 21.5% and 31.6%, on average, respectively. Eaton Vance common stockholders were offered 0.5833 Morgan Stanley common shares and $28.25 per share in cash for each Eaton Vance common share, and had the opportunity to elect to receive the . But if a seller is willing to agree to an earnout, it will have the following key concerns: When structuring an earnout, there are a number of key issues to consider, including: The parties will negotiate for various obligations and covenants of the buyer to protect the possibility that the earnout will be paid and maximized. In a third acquisition, on March 29, 2021, the company purchased a 50% stake in HuanYu High Tech, a subsidiary of HuanYu Group that manufactures and markets low-voltage circuit breakers and contactors in China and throughout Asia. Copy and paste multiple symbols separated by spaces. The acquisition included a wholesale parts distribution business. The report also indicates that the air-to-air refueling market will increase from $501 million in 2020 to $851 million in 2025, primarily due to increasing demand for combat aircraft and military spending by various countries.Given the expected increase in global demand for air-to-air refueling, the above acquisition will expand Eatons offerings in a market that has the potential to further improve from the present level. RELATED: The Best Advice for Mergers and Acquisitions. We will continue our significant investments to stay on the forefront of technology leadership and provide solutions that improve productivity and reduce emissions to meet the requirements of the future., The need for technologically innovative and industry-changing hydraulic solutions is as great as ever. Eatons aerospace business contributed 12.5% of total revenues in 2020 and these acquisitions will surely increase the contribution from this segment going forward. Here is a sample arbitration clause that can be used: Dispute Resolution. Type a symbol or company name. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Monday, August 2, 2021 Danfoss' acquisition of Eaton's hydraulics business has fully closed. In 2006, Eaton entered the data center power distribution market. Looking ahead, IHS Markit expects global EV sales to grow at 70% in 2021. The company will benefit from Green Motion?? Opinions expressed by Forbes Contributors are their own. Initial products were internally developed PDU's and RPP's under the Powerware brand and included the PowerXpert metering system. How can the seller make sure the buyer doesnt operate the business in a way that minimizes or eliminates the earnout payments? For each calendar month during the Earnout Period, Parent shall provide to the Stockholders a complete and accurate monthly report, within 30 days after the end of each month, setting forth in reasonable detail the Gross Revenues earned for the month, by category of revenue, and a calculation of the Earnout Payment owed for the month. DUBLIN, Ireland Power management company Eaton announced it has signed agreements to acquire Tripp Lite and Cobham Mission Systems, expanding Eatons power quality business in the Americas and Eaton Aerospaces fuel and environmental systems offerings, respectively. Is the amount of the potential earnout payments significant enough to delay the seller getting all cash up front? Eaton will pay $2.83 billion for the Davenport, Iowa-based company in a move that significantly expands its aerospace supply capabilities. With increasing global warming, companies across the globe are shifting to EV industry to look for sustainable options. By 2025, IHS Markit expects global sales to reach12.2 million at a CAGR of 52%.