Market Overview

Eaton Completes the Acquisition of Souriau-Sunbank Connection Technologies

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Power management company Eaton Corporation plc (NYSE:ETN) today announced it has completed the acquisition of the Souriau-Sunbank Connection Technologies business of TransDigm Group Incorporated for $920 million.

Headquartered in Versailles, France, Souriau-Sunbank is a global leader in highly engineered electrical interconnect solutions for harsh environments for customers in the aerospace, defense, industrial, energy, and transport industries. Founded over 100 years ago, the business has a workforce of approximately 3,200 people and manufacturing facilities in France, the Dominican Republic, India, Morocco, Mexico, and the United States.

"I am delighted to welcome the Souriau-Sunbank team to Eaton," said Craig Arnold, Eaton chairman and chief executive officer. "Souriau-Sunbank accelerates our participation in the growing market for electrical content on aircraft and is another example of our strategy to bring our broad electrical expertise into new markets."

Eaton is a power management company with 2018 sales of $21.6 billion. We provide energy-efficient solutions that help our customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Eaton is dedicated to improving the quality of life and the environment through the use of power management technologies and services. Eaton has approximately 103,000 employees and sells products to customers in more than 175 countries. For more information, visit Eaton.com.

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