Eaton completes the acquisition of Tripp Lite

Headquartered in Chicago, Illinois, Tripp Lite is a supplier of power quality products and connectivity solutions including single-phase uninterruptible power supply systems, rack power distribution units, surge protectors, and enclosures for data centers, industrial, medical and communications markets in the Americas. “I am delighted to welcome the Tripp Lite team to Eaton,” says Uday Yadav, president and chief operating officer, Electrical Sector, Eaton, in a press release. “The addition of Tripp Lite’s complementary product offerings will enhance the breadth of our edge computing and distributed IT product portfolio and expand our single-phase UPS business.” Under the terms of the agreement, which was originally announced in January 2021, Eaton payed USD 1.65 billion for Tripp Lite, representing approximately 12 times Tripp Lite’s 2020 EBITDA and 11 times the company's estimated 2021 EBITDA.