Shearman And Sterling

News July 01, 2022

GE Gas Power To Acquire Nexus Controls From Baker Hughes

Shearman & Sterling advised General Electric Company (GE) as its Gas Power business agreed to acquire Nexus Controls, a Baker Hughes business, specializing in aftermarket control system upgrades and controls field services to create a single, world-class, full-service controls business within GE. Following deal closure, the proposed integrated business would develop the future of GE’s proprietary MarkTM Vle controls systems platform for customers, design retrofit and modernization offerings, and streamline and improve the delivery and service of controls in the power generation space.

The deal, which is subject to customary closing conditions including regulatory approval and mandatory information and consultation processes with employees and their representatives, is expected to close in the second quarter of 2023.

The Shearman & Sterling team below included associates Eugene Kim (D.C.-Tax), Austin Grossfeld (NY-Intellectual Property Transactions) and Jake Shaughnessy (NY-Mergers & Acquisitions).

The Team