Eaton to acquire Italy's grid equipment maker COL Group for €810 million to expand in Europe

Sept 25 (Reuters) - Power management company Eaton said on Friday it had agreed to acquire Italy-based COL Group from investment management firm Oaktree Capital Management for an enterprise value of €810 million ($923.16 million).

• Eaton said the deal with Oaktree's Power Opportunities strategy would expand its power distribution and manufacturing capacity in Europe amid growing demand from data centers and utilities.

• COL Group, which has about 400 employees and facilities in Turin, Milan, Bergamo and Catania, forecasts 2027 sales of €250 million.

• The company develops medium-voltage electrical distribution solutions, including switchgears, grid automation technologies and modular power systems.

• The deal is expected to close in the first quarter of 2027.

• The Dublin, Ireland-based Eaton expects 2026 adjusted profit between $13.4 and $13.6 per share.

($1 = 0.8774 euros)

(Reporting by Megavarshini G. Somasundaram in Bengaluru; Editing by Vijay Kishore)