Lighting & HVAC
Eaton’s Cooper Lighting finds a home with Signify
October 16, 2019 By Anthony Capkun
Signify (formerly Philips Lighting) is acquiring Cooper Lighting Solutions for US$1.4 billion from Eaton Corp. Subject to regulatory approvals and other conditions, the deal is expected to take place in Q1-2020.
This deal, “confirms the strategic importance of the North American market for Signify,” said Eric Rondolat, Signify’s CEO, adding, “we look forward to welcoming the team from Cooper Lighting.”
Headquartered in Peachtree City, Ga., Cooper Lighting is a provider of lighting, lighting controls and connected lighting under brands that include Corelite, Halo, McGraw-Edison and Metalux.
With approximately 28,000 employees and a presence in over 70 countries, Signify is a global player “in lighting for professionals and consumers, and lighting for the Internet of Things.”
Signify reports the combined businesses will be “better-positioned to benefit from the growing US$12 billion professional lighting market in North America, driven by the continued conversion to LED and the increased demand for connected lighting systems and controls.”
Signify and Cooper Lighting will maintain separate front offices: sales forces, agent networks, product and brand portfolios, marketing and product development teams. Both businesses will be able to “strengthen their respective product portfolios, benefitting from an increased power of innovation as well as more competitive and cost-efficient offerings.”
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