"Growth opportunities tied to the electrification of our economy are accelerating…," Heath Monesmith, president and chief operating officer of Eaton's industrial sector unit, said in a statement. "And the addition of Royal Power Solutions enhances our ability to capitalize on this secular growth trend across our e-mobility, aerospace and electrical businesses."
Royal Power Solutions employs about 450 people and operates two manufacturing facilities, located in Carol Stream, Ill., and Queretaro, Mexico. The company also has a sales and engineering department located near Detroit in Canton, Mich.
Eaton does not plan to reorganize Royal Power Solutions, but instead plans to leverage its presence within the e-mobility and aerospace markets to gain a stronger foothold in critical areas. Eaton will look to use its connectivity technology in the aerospace sector and data centers as well, Faria said.
Eaton Corp., which had 2020 revenues of $17.9 billion, serves customers in more than 175 countries and employs about 85,000 worldwide.