Boyd completes the sale of its thermal business to Eaton
Boyd Corporation has completed the sale of its Thermal business to Eaton, an intelligent power management company, for USD 9.5 billion.
Boyd’s Engineered Materials business will now operate as an independent company backed by Goldman Sachs Alternatives. Boyd’s Engineered Materials business will continue to design and manufacture advanced technologies that seal, shield, insulate, and protect while enhancing the efficiency, reliability, and lifecycle of its customers’ products across secular growth markets.
“Boyd has captured high growth opportunities by delivering innovative, customer-centric solutions to critical, rapidly expanding markets like medical wearables, AI data centres, battery energy storage, low earth orbital satellites, and emerging markets such as robotics,” said Doug Britt, Chief Executive Officer of Boyd, in a press release. “With the sale of our Thermal business, our leadership team is excited to transition their focus to the successful growth of our global Engineered Materials business.”
The company says that divestiture has no impact on Boyd’s Engineered Materials’ operations since historically, the company maintained segmented operations, leadership, R&D, sales and customer support teams between the Thermal and Engineered Materials businesses. Boyd’s Engineered Materials customers will continue to receive the same high-quality service they expect from Boyd.