GE Vernova to Acquire Trench Group
GE Vernova agreed to acquire Trench Group, a global leader in high-voltage grid equipment, from Triton Partners for $9.0 billion USD equivalent, funded equally with cash and debt. Trench is expected to generate $1.9 billion of revenue at approximately 36% adjusted EBITDA margin in 2028; the price reflects 13x 2028 adjusted EBITDA before synergies, and Trench carries roughly $5 billion in backlog and framework agreements. The deal vertically integrates a key supplier into GEV's Grid Systems Integration and Power Transmission businesses, adding 11 manufacturing sites and a newly opened Charlotte, NC facility for 765kv equipment.
Key figures
- Deal Value Usd
- 9000000000
- Funding mix
- equally cash and debt
- Expected close
- late 2027
- Eur usd rate assumed
- 1.12
- Trench 2028e revenue
- 1900000000
- Trench 2028e adj ebitda margin
- ~36%
- Trench backlog framework agreements
- approximately $5 billion
- Purchase multiple 2028e ebitda pre synergies
- 13x
AI analysis
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