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Industrial Machinery & Components

Jiangsu Huineng Electric has formed a joint venture with Eaton

The shareholders of Jiangsu Huineng Electric Co., Ltd. (Jiangsu Huineng) have sold a 50% equity stake of the company to Eaton Corporation (Eaton), promoting yet another strategic cooperation and further consolidation in China’s electrical equipment sector, after helping Huanyu Group to obtain strategic investment from Eaton in 2021.

Jiangsu Huineng is a leading Chinese low-voltage electrical equipment manufacturer. Founded in 2007 and headquartered in Zhenjiang, China, the company manufactures and markets low-voltage circuit breakers, relays and contactors in China. The company has strong R&D capabilities and leads the market in product innovation. Its products have wide applications, with specialty and a clear leading market position in the renewable energy sector. In 2021, Jiangsu Huineng generated revenues of US$35 million.

Eaton is a leading global player in the electrical industry, with over 100 years of history. With strong sales presence in over 170 countries, Eaton generated total revenues of US$19.6 billion in 2021. Eaton entered the Chinese market in 1993, and has grown to be one of the major players in the country’s low-voltage electrical sector.

Through this transaction, Jiangsu Huineng expects to combine its strength in product innovation and production with Eaton’s strong sales channels in both China and overseas markets to achieve higher growth for both companies.

Oaklins’ team in Shanghai acted as the exclusive financial advisor to the shareholders of Jiangsu Huineng in this transaction and assisted with valuation guidance, negotiations, pre-closing restructuring and other closing matters.

Service
M&A sell-side
Parties
“The Oaklins team understands our industry and strategic needs. We’re very pleased to have completed this strategic leap forward in our company’s development with their help.”

Changsheng Jiang

Chairman, Jiangsu Huineng Electric Co., Ltd.

Talk to the deal team

 Angela  Chen

Angela Chen

Principal
Shanghai, China
Oaklins HFG China

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