Eaton agrees to buy COL Group from Oaktree for €810 million

Eaton agreed to acquire COL Group from Oaktree’s Power Opportunities strategy at an enterprise value of €810 million. The Italian business develops medium-voltage electrical distribution equipment, including SF₆-free switchgear, grid automation technologies and modular power systems.

It has approximately 400 employees and facilities in Turin, Milan, Bergamo and Catania, and forecasts €250 million in sales for 2027. Eaton said the acquisition would expand its European manufacturing capacity for data center and utility customers.

Closing is expected in the first quarter of 2027, subject to regulatory approvals and customary conditions.