Eaton agrees to acquire COL Group for €810 million

Eaton announced on September 25, 2026, that it has signed an agreement to acquire COL Group from Oaktree's Power Opportunities strategy. The transaction values COL Group at an enterprise value of €810 million.

COL Group specializes in medium-voltage electrical distribution solutions, including SF₆-free switchgear, grid automation technologies and modular power systems. The Italian industrial firm employs approximately 400 people, operates facilities in Turin, Milan, Bergamo, and Catania, and has forecasted sales of €250 million for 2027.

Eaton plans to use the acquisition to expand its European manufacturing footprint and power distribution platform to meet growing customer demand in data center and utility markets. Omar Zaire, president of the EMEA Region for Corporate and Electrical Sector at Eaton, noted that the deal will strengthen integrated grid-to-chip power solutions.

The transaction is subject to customary closing conditions and regulatory approvals. Both companies expect the purchase to close in the first quarter of 2027.