Diversified industrial manufacturer Eaton Corp. (NYSE: ETN), Dublin, Ireland, intends to pursue a tax-free spin-off of its Lighting business. The spin-off will create an independent, publicly traded company and is expected to be completed by the end of 2019. Goldman Sachs is serving as Eaton’s financial advisor on the transaction.

The Lighting business is a leading provider of LED lighting and control solutions. Its products and systems are designed to maximize performance and energy efficiency. The business, which had sales of $1.7 billion in 2018, serves customers in commercial, industrial, residential and municipal markets.