Eaton Agrees to Buy Defense Group Ultra PCS for $1.6 Billion

Eaton Corp. agreed to buy defense and aerospace systems company Ultra Precision Control Systems from private equity firm Advent.

Eaton will pay $1.55 billion for the Cheltenham, England-based business to boost its portfolio in both military and civilian aircraft, it said in a statement Monday. The transaction is expected to be accretive given Ultra PCS’s strong growth and high margins, according to the statement.