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Boyd Thermal is a leader in thermal components, systems and ruggedized solutions for data centers, aerospace and other end markets. Under the terms of the agreement, Eaton will pay $9.5 billion, which represents 22.5 times Boyd Thermal’s estimated adjusted EBITDA for 2026*.

Power and cooling firm Eaton is acquiring the data center cooling business of Boyd. The company this week announced it has signed an agreement to acquire the Boyd Thermal business of Boyd Corporation from Goldman Sachs Asset Management for $9.5 billion. The transaction, subject to customary closing ...

Boyd is the trusted global innovator of sustainable solutions that make our customers’ products better, safer, faster, and more reliable.

Boyd Announces Sale of its Thermal Business to Eaton for $9.5 Billion

Boyd enhances intelligent mobility battery safety, thermal performance, and system reliability through advanced engineering and precision validation. To see how Boyd leverages in-house testing...

Boyd Likely Has Parameters Boyd has previously been mentioned as a potential participant in mergers and acquisitions activity, but as of yet, nothing has come of that chatter.

Boyd in ‘Best Position Ever’ for M&A, But That Doesn’t Mean It Will ...

Boyd Gaming reported first-quarter 2026 revenues of $997.4 million, increasing from $991.6 million in the first quarter of 2025.