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What To Know About Eaton's $920M Deal With TransDigm

Tanzeel Akhtar

Eaton Corporation plc (NYSE: ETN) will acquire Souriau-Sunbank Connection Technologies business of TransDigm Group (NYSE: TDG) Incorporated for $920 million.

Souriau-Sunbank is headquartered in France and provides engineered electrical interconnect products for customers in the aerospace, defense, industrial, energy and transport industries. For the trailing 12-month period ending June 30, sales of the business were $363 million.

Eaton is a power management company with 2018 sales of $21.6 billion.

“Souriau-Sunbank is a great fit with our current aerospace portfolio,” said Craig Arnold, Eaton CEO. “Souriau-Sunbank’s extensive connectors capabilities will accelerate our participation in the growing market for electrical content on aircraft, and also give us a strong portfolio of connectors for the industrial, energy, and transport markets that we serve today.”

Eaton shares were trading at $79.96 on Monday morning. The stock has a 52-week high of $89.46 and a 52-week low of $64.46.

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