Ulusoy Elektrik

Ulusoy Elektrik — the Turkish producer of the electrotechnical equipment founded in 1985.  The company issues electroswitching solutions for the systems of distribution of energy and power and also electrotechnical technologies for the railroads. By the end of January, 2019 Ulusoy Elektrik has enterprises in Turkey, Indonesia and Algeria. Products are delivered more than to the 70th countries on four continents.

Performance Indicators

2018: Revenue — $126 million

At the end of 2018 revenue of Ulusoy Elektrik reached $126 million.

History

2019: Eaton took 82.275% of the shares Ulusoy Elektrik for $214 million

At the end of January, 2019 Eaton announced purchase of a controlling stake of Ulusoy Elektrik for the purpose of expansion of production capacities abroad and improvements of the power distribution systems.

Eaton purchases a 82.275 percent share in Ulusoy Elektrik for $214 million and will pay the transaction from own means and by taking on itself debts of the Turkish company. It is going to close the transaction in the first half of 2019. At first profile regulating authorities should approve it.

Eaton purchased the producer of the electrotechnical equipment

According to the president and the operating officer of Eaton Revathi Advaithi, the company is going to use Ulusoy Elektrik technologies in the systems of power distribution of the IEC family and custom solutions for voltage stabilization.

Besides, this transaction adds competitive production base with high opportunities and provides us additional access to the market of the srednevoltny equipment in Europe, in the Middle East and in Africa" — Advayti said.

By the end of January, 2019 in Ulusoy Elektrik about 780 people, including more than 100 engineers work. Market capitalization makes $1.26 billion. After the declaration of sale of Ulusoy Elektrik of a stock of the company fell in price by 4%, and Eaton quotation rate did not change in any way.^[1]

Notes