Eaton (NYSE: ETN) has signed an agreement to acquire COL Group from Oaktree's Power Opportunities strategy for an enterprise value of €810 million, the company announced in a press release.

COL Group specializes in medium-voltage electrical distribution solutions, including SF₆-free switchgear, grid automation technologies, and modular power systems. The Italy-based company has approximately 400 employees and operates facilities in Turin, Milan, Bergamo, and Catania. COL Group has forecasted sales of €250 million for 2027.

The acquisition is intended to expand Eaton's European power distribution capabilities and manufacturing footprint to serve data center and utility markets in the EMEA region.

"COL Group brings complementary technologies, manufacturing capabilities and engineering expertise that will further strengthen Eaton's European power distribution platform," said Omar Zaire, president of the EMEA Region, Corporate and Electrical Sector at Eaton.

The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the first quarter of 2027.

Eaton reported revenues of $27.4 billion in 2025 and serves customers in 180 countries.