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Eaton Expands Data Center Business with $9.5 Billion Boyd Thermal Deal
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Heartspace News Desk
•Source: Reuters
Photo by Keagan Henman on Unsplash
TL;DR
Eaton is acquiring Boyd Corporation's thermal management business from Goldman Sachs Asset Management for $9.5 billion to bolster its data center capabilities amid increasing demand for AI-driven power and cooling solutions. Boyd Thermal projects $1.7 billion in sales for 2026, with the acquisition expected to close in the second quarter of 2026, after Eaton's other recent acquisitions this year.
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Key takeaways
- Power management company Eaton has announced its acquisition of Boyd Corporation's thermal management business from Goldman Sachs Asset Management for $9
- 5 billion, according to Reuters
- This marks Eaton's fourth acquisition this year and strategically strengthens its data center segment
Power management company Eaton has announced its acquisition of Boyd Corporation's thermal management business from Goldman Sachs Asset Management for $9.5 billion, according to Reuters. This marks Eaton's fourth acquisition this year and strategically strengthens its data center segment. The move aims to capitalize on the rapidly increasing demand for advanced power and liquid cooling solutions, primarily fueled by the growth of artificial intelligence.
Boyd Thermal projects sales of $1.7 billion for 2026, with Eaton valuing the transaction at 22.5 times the business's estimated 2026 adjusted EBITDA. This acquisition follows Eaton's recent purchases of Fibrebond, Resilient Power Systems, and aerospace firm Ultra PCS. Eaton anticipates the Boyd Thermal acquisition will be finalized in the second quarter of 2026.
Related Topics
EatonBoyd Corporationacquisitiondata centerthermal managementGoldman SachsM&A
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