Eaton Corp. (NYSE:ETN), Cleveland, announced last week that it has agreed to acquire E.A. Pedersen Co., Omaha, Neb., a manufacturer of medium voltage switchgear primarily for the electrical utilities industry. Eaton Power Distribution President Rich Stinson said the deal "will strengthen Eaton's medium voltage assembly business by adding important utility-oriented power products and custom engineering capabilities for our U.S. markets." The deal is subject to customary closing conditions. Terms were not disclosed.
Pederson's products include metal-clad switchgear, power control buildings and relay control panels. E.A. Pedersen does business as Pedersen Power Products and employs about 150 people. The company is expected to have 2011 sales of approximately $37 million.