Advent to acquire GE’s Distributed Power business
Advent International, one of the largest global private equity investors, announced that it has signed a definitive agreement to acquire General Electric‘s Distributed Power business for $3.25 billion. The transaction includes Distributed Power’s Jenbacher and Waukesha engines, as well as manufacturing sites in Austria, Canada and the U.S.
Distributed Power, a business unit of GE Power, is a leading provider of gas engines, power equipment and services focused on power generation and gas compression. Distributed Power offers a diverse product portfolio that includes highly efficient, fuel-flexible, industrial gas engines generating 200 kW to 10 MW of power. With approximately 3,000 employees and three main facilities located in Austria, the U.S. and Canada, Distributed Power has delivered more than 48,000 Jenbacher and Waukesha gas engines around the world. The Distributed Power business had sales of $1,32 million for the year ended December 31, 2017.
Carlos Lange, President of Distributed Power: “Advent’s sector expertise will allow us to further strengthen our capabilities. Advent will help accelerate our growth as we continue to execute on our priorities.” “Distributed Power is a terrific asset with highly regarded engines,” said Ranjan Sen, Managing Partner at Advent International. “The business has significant growth potential on a global scale all over the world.
