Eaton Corp acquires IE Power Inc assets
By Anthony Capkun
September 9, 2011 – Eaton Corp. has acquired the assets of Mississauga, Ont.-based IE Power Inc., a provider of high-power inverters for a variety of applications, including solar, wind and battery energy storage, with sizes from 100kW to 5MW.
IE Power employs 24 people, and was founded in 1985. Terms of the transaction were not disclosed.
“This acquisition provides Eaton with strong design capabilities for high-power inverters, an established product platform, and access to the rapidly growing utility solar inverter market,” said Eaton’s Matt Lorenz, vice-president and general manager, Electrical Components Organization, Industrial Control Division. “When combined with our global capabilities, IE Power’s robust and cost-competitive inverter technology and powerful R&D capacity positions Eaton with one of the broadest solar inverter product portfolios in the industry.”
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