Irish power management company Eaton has agreed to acquire the COL Group from Oaktree’s Power Opportunities strategy for an enterprise value of €810m.
The transaction aims to expand Eaton’s manufacturing capacity and power distribution capabilities in Europe, the Middle East and Africa (EMEA), particularly in the data centre and utility sectors.
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The COL Group, which specialises in medium-voltage electrical distribution solutions such as SF₆-free switchgear, grid automation technologies, and modular power systems, is forecast to generate €250m in sales by 2027.
The company employs approximately 400 staff and operates facilities in Turin, Milan, Bergamo and Catania, Italy.
The deal remains subject to customary closing conditions and regulatory approvals and is expected to be completed in the first quarter of 2027.
Eaton serves customers across 180 countries and reported revenue of €24.08bn in 2025.
The acquisition is expected to strengthen Eaton’s ability to meet growing demand from data centre and utility customers across EMEA by expanding its manufacturing footprint and broadening its power distribution technologies.
Eaton EMEA Region corporate and electrical sector president Omar Zaire said: “COL Group brings complementary technologies, manufacturing capabilities and engineering expertise that will further strengthen Eaton’s European power distribution platform.
“The acquisition will enhance our ability to support utility and data centre customers’ increasing need for resilient, sustainable power infrastructure and integrated grid-to-chip power solutions.”
Founded in 1911, Eaton offers a broad portfolio of products serving the aerospace, commercial, industrial, institutional, machine-building, mobility and residential sectors, as well as data centre and utility markets.
In March 2025, Eaton agreed to acquire Fibrebond, a US-based company that designs and builds modular power enclosures for data centres, industry, utilities and communications.
