Eaton Acquires Boyd Thermal From Boyd Corporation / Goldman Sachs Asset Management for $9.5 Billion
March 12, 2026
Eaton announced it has completed (and previously agreed) to acquire the Boyd Thermal business from Boyd Corporation, with the Thermal business sold from Goldman Sachs Asset Management. The transaction strengthens Eaton’s data center “grid-to-chip” power and liquid-cooling infrastructure offering and is expected to be accretive to adjusted earnings in year two after closing.
- Buyers
- Eaton
- Targets
- Boyd Thermal (thermal management business of Boyd Corporation)
- Sellers
- Boyd Corporation, Goldman Sachs Asset Management
- Industry
- IT Services
- Location
- United States
- Transaction Type
- Buyout
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