Lighting & HVAC
Signify completes acquisition of Cooper Lighting Solutions
By Kavita Sabharwal-Chomiuk
Signify has announced that it has successfully completed its acquisition of Cooper Lighting Solutions from Eaton for US$1.4 billion on a cash and debt-free basis. Signify says the move will strengthen its position in the North American lighting market.
“We’re very excited to welcome Cooper Lighting to Signify and to start working together,” said Eric Rondolat, CEO of Signify. “Since the announcement of the transaction on October 15, the teams have been working hard to prepare the integration plans and are now ready to move fast to realize the synergies. Together, we will drive innovation, advance in connected lighting and systems, creating significant value for our customers. And it will give us the scale and operational efficiencies to make our offerings even more competitive.”
Cooper Lighting Solutions is based in Peachtree City, Georgia. In 2019, the company generated 1.477 million in sales, adjusted EBITA of EUR 150 million and EBITA of EUR 165 million.