DUBLIN—Power management company Eaton Corp. Inc. has sold its Automotive Fluid Conveyance Division to private equity firm Quantum Capital Partners.
Terms of the transaction were not disclosed.
Eaton, which is based in Dublin, but has its North American headquarters in Beachwood, Ohio, said in a news release that the division makes hydraulic power-assisted steering, active ride systems, oil cooling, air conditioning and plastic components for the automotive industry. It has about 1,300 employees and manufacturing facilities in the United Kingdom, Germany, the Czech Republic and China.
The division, part of Eaton's Vehicle Group, had sales of about $150 million in 2018. Eaton disclosed plans to sell the division in March, saying it wanted to focus on higher-growth segments of the Vehicle Group business.
Eaton employs 101,000 people worldwide and sells products to customers in more than 175 countries. It had sales of $21.6 billion in 2018.