Shearman And Sterling

News June 25, 2018

GE $3.25 Billion Sale of Distributed Power Business

Shearman & Sterling advised GE on the sale of its Distributed Power business to Advent International (“Advent”), 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 reciprocating gas engines, power equipment and services focused on power generation and gas compression at or near the point of use. 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 reciprocating gas engines to customers around the world. 

Advent is one of the largest and most experienced global private equity investors. The firm has invested in over 335 private equity transactions in 41 countries, and as of March 31, 2018, it had €33 billion in assets under management. 

The Shearman & Sterling team below was supported by trainees Arthur Morriss (London-Mergers & Acquisitions) and Eugenio Zupo (Milan- Mergers & Acquisitions).

The Team