GE to sell Distributed Power business to Advent International for $3.25 billion
July 12, 2018 By Ellen Cools
July 12, 2018 — GE recently announced that it has signed an agreement to sell its Distributed Power business to Advent International, a global private equity investor, for $3.25 billion.
The transaction includes Distributed Power’s Jenbacher and Waukesha engines, as well as manufacturing sites in Canada, Austria and the U.S.
“Distributed Power is a terrific asset with highly regarded engines that are the go-to OEM for the efficient generation of electrical power and heat as well as gas compression,” said Ranjan Sen, managing partner, Advent International. “The business has significant growth potential on a global scale and talented employees all over the world. We plan to invest substantially in critical areas such as the product portfolio, service network and digitization to support Distributed Power in sustainably strengthening its market position.”
Distributed Power is a provider of reciprocating gas engines, power equipment and services focused on power generation and gas compression at or near the point of use. With about 3,000 employees and three main facilities located in Canada, Austria and the U.S., Distributed Power has delivered over 48,000 Jenbacher and Waukesha reciprocating gas engines. The Distributed Power business had sales of $1,317 million in 2017.
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