Turin, Italy / Los Angeles, CA – September 25, 2026 – Oaktree Power Opportunities (“Oaktree”) today announced an agreement to sell COL Group, a leading company in the power transmission and distribution sector, together with its subsidiaries Imequadri and Imemont, to Eaton (NYSE: ETN), a company specializing in intelligent power management solutions, for €810 million.
COL Group is an industrial company with over a century of experience, specializing in the development of technological solutions for electricity transmission and distribution. It offers reliable, future-oriented products for electrical systems serving customers in the utility, renewables and industrial sectors. COL has established itself as a benchmark in the electrical and electromechanical infrastructure sector and as a key player in the energy transition.
Oaktree invested in COL in 2021 as part of its focus on companies providing essential infrastructure in support of the global energy transition and the electrification of power grids. Since then, Oaktree’s specialist team has supported COL in expanding its product portfolio and customer base, including through the acquisitions of TeamWare and IME Group, and in strengthening its leadership position in transmission and distribution, at a time of rapidly growing demand for resilient electrical infrastructure from utilities, critical industries and data centers.
The acquisition by Eaton is expected to further accelerate COL’s growth by integrating its complementary technologies and engineering expertise into Eaton’s European electrical distribution platform, strengthening the ability of both companies to respond to customers’ growing need, including data centers, for resilient and sustainable electrical infrastructure.
Francesco Giuliani, Managing Director of Oaktree Power Opportunities, stated: “Oaktree is proud of its partnership with COL and the founding family since 2021, built on a century of engineering heritage to create a market leader in grid infrastructure products and services. Our thanks go to the management team and to all the people of COL for their commitment to customers, upholding the highest standards of quality, innovation and execution. With a broader portfolio, greater geographic reach and a stronger engineering team, COL is ready to seize the momentum of investment in grid infrastructure, and in Eaton it has found the ideal partner to drive it forward.”
Calogero Saeli, CEO of COL Group, stated: “We wish to express our gratitude to Oaktree for the strategic support provided over recent years, and for the expertise and financial resources that have underpinned our growth path, enabling us to broaden both our product offering and our customer base. Joining Eaton marks an important chapter in the growth story of COL and IME and represents a strategic opportunity for our employees, customers and partners. Combining our respective industrial, technological and engineering expertise with Eaton’s global reach will further strengthen our ability to support the modernization of power grids, promote electrification and contribute to the development of the essential infrastructure needed for a sustainable and resilient energy transition.”
The transaction is subject to customary closing conditions and to obtaining the necessary regulatory approvals. Closing is expected in the first quarter of 2027.
Lincoln International is acting as exclusive financial advisor.
About Oaktree
As part of Brookfield’s $416 billion credit platform, Oaktree is a leading credit manager, with an opportunistic, value-oriented and risk-controlled approach to investing in credit, equity and real estate. To learn more about its global business and investment philosophy, visit oaktreecapital.com.
Oaktree Power Opportunities’ investment strategy aims to invest in market-leading companies that provide essential products and services to owners of critical infrastructure in the electric power, natural gas, water, wastewater and other energy and utility businesses, based in North America and Europe.
About COL Group
COL Group is an industrial company with over a century of experience, specializing in the development of technological solutions for electricity transmission and distribution. Founded in 1920 in Trofarello (Turin), the company is today a benchmark in the electrical and electromechanical infrastructure sector, guided by an approach focused on innovation, quality and sustainability. With production sites in Turin, Milan, Bergamo and Catania, the Group employs over 400 people.