# Eaton agrees to acquire 82.275% stake in Ulusoy Elektrik for $214M

Eaton has reached a definitive agreement to acquire an 82.275% controlling interest in Ulusoy Elektrik, a Turkish switchgear manufacturer, for approximately $214 million.

- Type: Acquisition
- Announced: 2019-01-31
- Where: Ankara, Türkiye
- Value: $214.0M
- Jobs: 780
- Status: announced
- Products: medium-voltage switchgear, distribution transformers, substation kiosks, cable connection systems
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Eaton](https://endata.com/companies/2829.md) (acquirer)
- [Ulusoy Elektrik](https://endata.com/companies/35735.md) (target)

## Sources

- [eaton.com](https://www.eaton.com/tr/en-gb/company/news-insights/news-releases/2019/eaton-agrees-to-acquire-controlling-interest-in-ulusoy-elektrik-.html), 2019-02-01: "The acquisition of Ulusoy Elektrik complements Eaton's IEC portfolio and strengthens our ability to provide tailored medium-voltage solutions that span the full range of requirements."
- [eaton.com](https://www.eaton.com/us/en-us/company/news-insights/news-releases/2019/eaton-agrees-to-acquire-controlling-interest-in-ulusoy-elektrik-.html), 2019-02-01: "The acquisition of Ulusoy Elektrik complements Eaton's IEC portfolio and strengthens our ability to provide tailored medium-voltage solutions that span the full range of requirements."
- [dailysabah.com](https://www.dailysabah.com/energy/2019/02/02/dublin-based-eaton-corp-acquires-82-pct-in-local-ulusoy-elektrik), 2019-02-01: "The company, based in capital Ankara, said the share purchase price amounted to approximately $214 million on a cash and debt-free basis."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.