Emerson Electric Co. (NYSE: EMR)  will sell its network power division to Platinum Equity and other investors in a deal valued at $4 billion, the company’s second announced divestiture on  as chief executive officer David Farr unloads less-profitable businesses.

The network power sale is targeted for completion by the end of 2016, the St. Louis-based company said in a statement. Emerson will keep a stake in the business, it said. Emerson also agreed to sell its motor and generator business to Nidec Corp. of Japan for $1.2 billion.

Farr in June 2015 announced plans to spin off network power and explore options for other operations, including motors and drives, to focus on more profitable units. He built the network power business since becoming CEO in 2000, and in 2015 he wouldn’t want to “put that on my tombstone.”

“By selling Network Power to Platinum Equity, we have achieved a successful result for our shareholders as part of our plan to streamline Emerson to create a more focused company,” Farr said in the statement.

Platinum Equity, a private-equity firm in Beverly Hills, California, founded by Tom Gores, also bought a controlling stake in Emerson’s embedded computing and power business, now known as Artesyn Embedded Technologies. Earlier in 2016, the PE firm bought food ingredient distributor JM Swank from ConAgra Foods Inc. (NYSE: CAG).

Bankers from J.P. Morgan Securities LLC (NYSE: JPM) and Centerview Partners LLC advised Emerson, which received legal advice from Davis Polk & Wardwell LLP.

Emerson’s third-quarter sales fell 7 percent to $5.13 billion, reflecting “the continuation of challenging demand conditions in our key served markets in addition to an environment of global economic uncertainty,” the company also said.

Manufacturing industry