GE Vernova said on Wednesday it has signed an agreement to acquire Trench Group from investment firm Triton Partners, in a release published the same morning as its third quarter results. GE Vernova will pay 9.0 billion dollars equivalent at closing, currently expected to be funded equally between cash and debt, and the acquisition is expected to close in late 2027, subject to customary regulatory approvals and consultation with employee representatives where legally required.
Trench makes high-voltage bushings, instrument transformers and coils, serves more than 800 utilities and hyperscalers, and employs more than 3,000 people across 11 manufacturing sites in Europe, North America and Asia. Its components are present in the majority of high-voltage direct current lines built globally, according to the release. GE Vernova said the deal brings about 5 billion dollars in backlog and framework agreements, some reaching into the next decade, and adds a newly opened Trench facility in Charlotte, North Carolina, where manufacturing of 765 kilovolt equipment is expected to begin in late 2027.
GE Vernova put Trench’s standalone revenue at 1.4 billion dollars in 2026, rising to 1.9 billion dollars in 2028, with adjusted EBITDA of 0.7 billion dollars and an adjusted EBITDA margin of about 36 percent in 2028. Chief executive Scott Strazik said Trench’s technology and customer relationships are key enablers of the modernised grid required to keep pace with demand from ageing infrastructure, data centres, renewable energy and industrial electrification. The company said it would discuss the transaction on an extended third quarter earnings call on Wednesday.
The acquisition was announced alongside GE Vernova’s third quarter results, covered separately on this site, in which revenue rose 27 percent to 12,642 million dollars. Triton, in its own announcement, said Trench had passed 2 billion euros in order intake and 1 billion euros in revenue under its ownership since a corporate carve-out in April 2024.