Signify has completed its €1.3 billion acquisition of Cooper Lighting Solutions from Eaton. The transaction strengthens Signify’s market position and better positions the company to capture growth in the North American lighting market.
“We’re very excited to welcome Cooper Lighting to Signify and to start working together,” said Eric Rondolat, CEO of Signify. “Since the announcement of the transaction on October 15, the teams have been working hard to prepare the integration plans and are now ready to move fast to realise the synergies. Together, we will drive innovation, advance in connected lighting and systems, creating significant value for our customers. And it will give us the scale and operational efficiencies to make our offerings even more competitive.”
Cooper Lighting, based in Georgia, generated sales of €1,477 million and Adjusted EBITA of €150 million in 2019.