Posted April 16, 2019

Eaton completes Ulusoy Elektrik acquisition

Eaton has completed the acquisition of Ulusoy Elektrik, a manufacturer of medium voltage electrical equipment based in Ankara, Turkey.

The purchase amounts to about 82 percent controlling interest in the company and about 90 percent of the outstanding voting rights. As required by the Turkish capital markets legislation, Eaton now plans to file an application to execute a mandatory tender offer for the remaining shares.

Established in 1985, Ulusoy Elektrik employs approximately 780 people and has manufacturing facilities in Turkey and Indonesia. The company’s products include medium-voltage switchgear, medium-voltage distribution transformers, substation kiosks, and medium-voltage cable connection systems.