Eaton has announced its intent to pursue a spin-off of its Lighting business, creating an independent, publicly traded company. A transaction is expected to be completed by the end of this year.
Included in the spin-off is Eaton’s lighting business – U.K. brands Zero 88, iLight, and Greengate, which are part of the Eaton Lighting Division – plus its global Airport Lighting business and Mains Lighting and Intrusion Systems operations that operate primarily in Europe and the Middle East.
The Crouse-Hinds Industrial Lighting business and Life Safety Division’s Emergency Lighting product lines in Europe, the Middle East, and Africa will remain with Eaton.
The Lighting business had sales of $1.7 billion in 2018 and employs over 5,000 people, so it will be one of the largest global lighting businesses, according to the company.
Simon Sparrow, managing director of Eaton Lighting Systems, says the company is excited about this announcement for several reasons. He says it better positions the Lighting business to respond to evolving industry and customer needs, it enables Lighting to compete more effectively across its diverse end-markets, and it enhances Eaton’s ability to focus investments in its core businesses.
Over the next few months, Eaton will be working to finalize the spin-off and ensure a smooth transition for employees, customers, and business partners.
In the meantime, it’s business as usual.
Customers can contact their current sales representative with any questions related to this announcement or any ongoing business relationships.