GE has agreed to sell its Distributed Power business to Advent International, a private-equity group based in Germany, for $3.25 billion. The deal includes the Jenbacher and Waukesha product lines, and manufacturing sites in Austria, Canada, and the USA. The transaction is expected to close late this year, subject to customary closing conditions and regulatory approvals.
Other bidders are believed to have included Cummins and Kohler, as well as other investment firms and syndicates. However, no information on the bidding process had been made official.
GE’s Distributed Power business designs and manufactures reciprocating gas engines, power equipment, and services for power generation and gas compression. The gas engines range from 200 kW to 10 MW. The business has approximately 3000 employees and three main manufacturing plants. It posted 2017 sales of $1.3 billion.