WASHINGTON (dpa-AFX) - GE Vernova Inc. (GEV), a energy equipment maker and services provider, said on Wednesday that it has signed a deal to acquire Trench Group, a high-voltage grid equipment firm, from Triton Partners, an investment company, for $9 billion, to be funded by cash and debt.
The transaction is expected to close in late 2027. The acquisition will directly enhance GE Vernova's two largest electrification businesses, Grid Systems Integration and Power Transmission, to deliver the technologies and manufacturing capacities needed for the global electricity industry.
GE Vernova CEO Scott Strazik, said: 'With a margin-accretive financial profile and approximately $5 billion in backlog and framework agreements, some of which reach into the next decade, this acquisition will deliver both immediate earnings visibility and long-term strategic value.'
Trench serves over 800 global utilities and hyperscalers with high- and medium-voltage bushings, instrument transformers, and coils. The company's manufacturing footprint spans 11 sites across Europe, North America, and Asia. Trench Group expects $1.9 billion in revenue for 2028.
GEV was up by 3.85% at $930 in the pre-market trade on the New York Stock Exchange.
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