# Eaton acquires majority stake in Ulusoy Elektrik

Eaton agreed to acquire an 82.275% controlling stake in Ulusoy Elektrik, a Turkish manufacturer of medium-voltage equipment, for approximately $214 million. The deal is expected to close in the first half of 2019.

- Type: Acquisition
- Announced: 2019-03-26
- Where: Ankara, Türkiye
- Value: $214.0M
- Status: announced
- Products: medium-voltage switchgear, distribution transformers, substations, cable 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)
- [Ulusoy Elektrik Imalat Taahhut ve Ticaret](https://endata.com/companies/38767.md) (target)

## Sources

- [itnews.com.ua](http://itnews.com.ua/news/88497-eaton-priobrel-kontrolnyj-paket-aktsij-ulusoy-elektrik), 2019-03-26: "Мы собираемся использовать технологии Ulusoy Elektrik в своих системах распределения питания семейства IEC и заказных решениях для стабилизации напряжения."
- [eaton.com](https://www.eaton.com/mx/es-mx/company/news-insights/news-releases/2019/eaton-completes-the-acquisition-of-a-controlling-interest-in-ulu.html), 2019-04-15: "Power management company Eaton today announced it has completed the acquisition of an 82.275 percent controlling interest in Ulusoy Elektrik."
- [power-eng.com](https://www.power-eng.com/operations-maintenance/eaton-acquires-turkish-switchgear-manufacturer/), 2019-04-16: "Eaton completed the acquisition of its 82.257-percent stake in Ulusoy Elektrik Imalat Taahhut ve Ticaret."
- [renewableenergyworld.com](https://www.renewableenergyworld.com/energy-business/energy-finance/eaton-acquires-turkish-switchgear-manufacturer/), 2019-04-16: "Eaton completed the acquisition of its 82.257-percent stake in Ulusoy Elektrik Imalat Taahhut ve Ticaret."
- [powertransformernews.com](https://www.powertransformernews.com/2019/04/18/eaton-acquires-turkish-grid-equipment-manufacturer/), 2019-04-18: "Eaton completed the acquisition of its 82.257-percent stake in Ulusoy Elektrik Imalat Taahhut ve Ticaret."
- [eenewseurope.com](https://www.eenewseurope.com/en/eaton-acquires-turkish-transformer-maker/), 2019-04-18: "The 82 percent interest in Ulusoy Elektrik Imalat Taahhut ve Ticaret AS will result in a full takeover."
- [blog.marketsandmarkets.com](https://blog.marketsandmarkets.com/eatons-acquisition-of-ulusoy-elektrik-in-turkey-is-likely-to-gain-it-more-business-access-in-the-middle-east-and-africa-region/), 2019-04-26: "Eaton completed the acquisition of a controlling interest in Ulusoy Elektrik, a medium voltage product manufacturing company in Turkey, in April 2019."
- [mnmblog.marketsandmarkets.com](https://mnmblog.marketsandmarkets.com/eatons-acquisition-of-ulusoy-elektrik-in-turkey-is-likely-to-gain-it-more-business-access-in-the-middle-east-and-africa-region/), 2019-04-26: "Eaton completed the acquisition of a controlling interest in Ulusoy Elektrik, a medium voltage product manufacturing company in Turkey, in April 2019."

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