Eaton Inks €810M Deal to Acquire Italy’s COL Group, Eyeing Europe’s Data Center Boom.
Intelligent power management giant Eaton is making a major play in the European energy sector, striking an €810 million deal to acquire Italy’s COL Group from Oaktree’s Power Opportunities strategy.
The strategic buyout is squarely aimed at meeting the surging power demands of the continent’s rapidly expanding data center and utility markets.
By bringing COL Group under its umbrella, Eaton lands a century-old industrial powerhouse renowned for its medium-voltage electrical distribution solutions. Crucially, the acquisition beefs up Eaton’s European manufacturing footprint while adding highly sought-after technologies to its portfolio, including grid automation, modular power systems, and environmentally friendly SF?-free switchgear.
The €810 million enterprise valuation secures a company that is already forecasting €250 million in sales for 2027. Operating out of facilities in Turin, Milan, Bergamo, and Catania, COL Group brings a deeply experienced workforce of roughly 400 employees to the Eaton roster.
Pending standard regulatory approvals and customary closing conditions, the transaction is slated to wrap up in the first quarter of 2027.
For Eaton, the move is a natural extension of its broader corporate playbook. As global markets lean heavily into electrification and digitalization, the company continues to aggressively position itself at the forefront of modern power management, building out the sustainable, high-capacity infrastructure required to keep up with today’s tech-driven economy.
Leadership Comment
“COL Group brings complementary technologies, manufacturing capabilities and engineering expertise that will further strengthen Eaton’s European power distribution platform,” said Omar Zaire, president, EMEA Region, Corporate and Electrical Sector, Eaton. “The acquisition will enhance our ability to support utility and data center customers’ increasing need for resilient, sustainable power infrastructure and integrated grid-to-chip power solutions.”
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