Royal Power Solutions, a manufacturer of electrical and power components, was purchased by Eaton for $600 million.
Industrial Growth Partners, a US-based manufacturer of high-precision electrical connector components, said this week that the business had finalised the acquisition. RPS was purchased by Industrial Growth Partners V, L.P. in 2017.
“The electrification of our economy is driving growth potential, and Eaton is actively engaging through our mobility and electrical businesses,” said Heath Monesmith, president and COO of Eaton’s Industrial Sector. “Adding Royal Power Solutions to our eMobility, aerospace, and electrical businesses strengthens our capacity to benefit on this secular growth trend.” We are delighted to have Royal Power Solutions join us in Eaton.”
Battery terminals, eyelet terminals, fuse components, and lead frames are all designed and manufactured by Royal Power Solutions. There are about 450 employees at the company, which has production plants in Carol Stream, Illinois, and Queretaro, Mexico, as well as a sales and engineering office in Canton, Michigan.
Eaton’s most recent large acquisition occurred just over a year ago. Tripp Lite was purchased for $1.65 billion in February 2021, expanding the company’s data centre offering with new single-phase uninterruptible power supply systems, rack power distribution units, surge protectors, and enclosures.
“During its ownership, IGP proven to be an exceptionally valued partner,” said Randy Ross, CEO of RPS. “We were able to enhance our skills, recruit critical people, introduce numerous new proprietary product categories, expand our manufacturing footprint worldwide, and grow our presence in new end markets thanks to IGP’s industrial investment expertise and focus on a long-term plan.”
