CLEVELAND (AP) - Diversified industrial manufacturer Eaton Corp. said Friday it is selling its mirror controls unit to private equity firm Englefield Capital LLP for $111 million.
The unit, which is part of Eaton's automotive group, produces mirror actuators and power-fold actuators for external automotive mirror systems at four factories and employees 630 people.
The deal is expected to close in the next 30 days, subject to customary closing conditions.
The diversified industrial manufacturer said it is selling the division because it does not fit its long-term strategic plan.
