Power management company Eaton has completed the previously announced acquisition of Richmond, Va.-based Power Distribution Inc.
Power Distribution provides power distribution and monitoring equipment and services for industrial and commercial customers. The acquisition will help Eaton “better serve our data center customers,” Brian Brickhouse, Eaton’s president for the Americas region electrical sector, said in a news release. Terms for the deal were not included in the release, and a message to the company was not returned as of publication.
Also on Feb. 25, Eaton announced a quarterly dividend of 73 cents per ordinary share, an increase of 3% over the last quarterly dividend. The company has paid dividends on its shares every year since 1923, a news release stated.
Eaton is based in Ireland but has its American headquarters in Beachwood. Its 2019 revenues were $21.4 billion, and it employs about 101,000 people.
