Boyd Corporation has signed a definitive agreement to sell its Thermal business to Eaton for $9.5 billion. Following the close of the transaction, which is expected in the second quarter of 2026, Boyd's Engineered Materials business will operate as an independent company under the Boyd brand and will continue to be backed by Goldman Sachs Alternatives. The sale is intended to position Boyd to further scale its Engineered Materials operations and pursue growth opportunities in rapidly expanding markets. Boyd stated that the divestiture will not impact the operations or customer service of its Engineered Materials business.
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