-

Eaton Signs Agreement to Acquire Cobham Mission Systems, Expanding Eaton Aerospace’s Fuel and Environmental Systems Offerings

DUBLIN--(BUSINESS WIRE)--Power management company Eaton (NYSE:ETN) today announced it has signed an agreement to acquire Cobham Mission Systems (“CMS”), a leading manufacturer of air-to-air refueling systems, environmental systems, and actuation primarily for defense markets. Under the terms of the agreement, Eaton will pay $2.83 billion for CMS, inclusive of $130 million in tax benefits. Excluding the amount paid for tax benefits, the purchase price represents approximately 14 times CMS’s 2020 EBITDA and 13 times its estimated 2021 EBITDA.

“Cobham Mission Systems’ highly complementary products and strong position on growing defense platforms will enhance our fuel systems business and position our Aerospace business for future growth,” said Heath Monesmith, president and chief operating officer, Industrial Sector, Eaton. “We look forward to welcoming CMS to Eaton.”

The acquisition, which is subject to customary closing conditions, is expected to close in the second half of 2021.

Eaton’s mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power – more safely, more efficiently, and more reliably. Eaton’s 2019 revenues were $21.4 billion, and we sell products to customers in more than 175 countries. We have approximately 92,000 employees. For more information, visit Eaton.com.

This news release contains forward-looking statements about the expected closing of the acquisition of Cobham Mission Systems and estimated Cobham Mission Systems 2021 EBITDA. These statements should be used with caution and are subject to various risks and uncertainties, some of which are outside of the company’s control. Factors that could cause these statements to become untrue include possible delay or failure of the satisfaction of all closing conditions. We do not assume any obligation to update these forward-looking statements.

Contacts

Margaret Hagan, (440) 523-4343
MargaretHagan@eaton.com

Eaton

NYSE:ETN

Release Summary
Eaton signs agreement to acquire Cobham Mission Systems, expanding Eaton Aerospace’s fuel and environmental systems offerings
Release Versions

Contacts

Margaret Hagan, (440) 523-4343
MargaretHagan@eaton.com

More News From Eaton

Eaton declares quarterly dividend payable May 23, 2025

DUBLIN--(BUSINESS WIRE)--The Board of Directors of intelligent power management company Eaton (NYSE:ETN) today declared a quarterly dividend of $1.04 per ordinary share. The dividend is payable May 23, 2025, to shareholders of record at the close of business on May 5, 2025. Eaton has paid dividends on its shares every year since 1923. Eaton is an intelligent power management company dedicated to protecting the environment and improving the quality of life for people everywhere. We make products...

Eaton Earns First A Rating From CDP for Climate Disclosure

DUBLIN--(BUSINESS WIRE)--Intelligent power management company Eaton today announced it has earned a Leadership Level designation from CDP, the world’s leading environmental disclosure platform, for the sixth consecutive year. Despite strengthened criteria each year, Eaton was rated an A in the climate category, making the company a top performer among industry peers. “We are incredibly proud to have received our first A rating from CDP in over a decade,” said Harold Jones, chief sustainability...

Eaton to announce first quarter 2025 earnings on May 2, 2025

DUBLIN--(BUSINESS WIRE)--Intelligent power management company Eaton (NYSE:ETN) will announce first quarter 2025 earnings on Friday, May 2, 2025, before the opening of the New York Stock Exchange. The company will host a conference call at 11 a.m. Eastern time that day to discuss first quarter 2025 earnings results with securities analysts and institutional investors. The conference call will be available through a live webcast that can be accessed via the Eaton First Quarter 2025 Earnings Resul...
Back to Newsroom