Eaton Acquires Royal Power Solutions from Industrial Growth Partners

Flex Ltd. Acquires Electrical Power Products (EP²) for ~$1.1B

April 1, 2026

Industrial Services

Flex entered into a definitive agreement to acquire Electrical Power Products, Inc. (EP²) in an all-cash deal valued at approximately $1.1 billion (about $1.0 billion after anticipated tax benefits). The acquisition is intended to expand Flex’s Critical Power portfolio with engineered-to-order power control and protection capabilities for utility, power generation, and industrial customers.

Eaton Acquires Resilient Power Systems

August 6, 2025

Industrial Services

Eaton signed an agreement to acquire Resilient Power Systems Inc., a North American developer and manufacturer of innovative energy solutions, including solid-state transformer-based technology. The deal is expected to close in the third quarter of 2025 (subject to customary closing conditions), and Eaton expects the acquisition to strengthen its medium-voltage power distribution offerings for markets such as data centers and energy storage.

Eaton Acquires 49% Stake in Jiangsu Ryan Electrical Co. Ltd.

April 24, 2023

Manufacturing

Eaton completed the acquisition of a 49% minority stake in Jiangsu Ryan Electrical Co. Ltd., a Nantong, Jiangsu-based manufacturer of power distribution and sub-transmission transformers. The deal gives Eaton greater access to Ryan’s manufacturing capabilities and China/Asia-Pacific customers as it expands its presence in renewable energy, data center, utility and industrial end markets.

Copley Equity Partners Invests in Power Solutions Group

May 13, 2021

Industrial Services

Copley Equity Partners has made a growth investment in Power Solutions Group, a NETA‑accredited provider of high‑voltage electrical testing, maintenance, and automation services. Owner Barry Willoughby retains significant ownership and will continue to lead the company as Copley supports organic growth and an acquisitive expansion strategy.

Royal Power Solutions Acquires Business Assets from Wieland Rolled Products North America

December 9, 2020

Manufacturing

Royal Power Solutions, an Industrial Growth Partners (IGP) portfolio company, acquired certain business assets and product lines from Wieland Rolled Products North America in two transactions (October 8 and December 9, 2020). The assets—including busbars, terminals, eyelets and shields—bolster Royal's capabilities in electrical connectivity for automotive, EV and power electronics platforms and add new manufacturing technologies and customers in mobility markets.

Power Grid Components Acquires Royal Switchgear Manufacturing

January 13, 2020

Manufacturing

Power Grid Components, a platform formed by Shorehill Capital and industry veteran Rick McClure, completed the acquisition of Royal Switchgear Manufacturing Company, Inc. in December 2019. The deal expands Power Grid's product offering into high-voltage switchgear and power connectors; Joe Carton became President of Royal and joined Power Grid's board. Financing was provided by Antares Capital, Maranon Capital and Fidus Investment Corporation.