Eaton’s LED-centric lighting unit will become independent company

Eaton has announced its intention to spin out its LED-centric lighting business into an independent publicly-traded entity by the end of 2019. The company made the announcement at its annual investors conference and further said that Goldman Sachs is serving as a financial advisor on the transaction. Eaton is a broad power-management company with 2018 sales of $21.6B (billion), and the Eaton Lighting Division (formerly Cooper Lighting) had seemed a symbiotic part of the larger power-management conglomerate.