GE Vernova to Buy Trench Group for $9 Billion

GE Vernova agreed to acquire high-voltage equipment maker Trench Group from Triton Partners for $9 billion, expanding its electricity-grid business as the company reported strong third-quarter results and raised its 2026 financial outlook. The transaction is expected to close in late 2027, subject to regulatory approvals and customary conditions, the company said. The acquisition would add manufacturing capacity and specialized components used in high-voltage transmission systems to GE Vernova’s Electrification segment. The company expects to finance the purchase equally with cash and debt. Trench’s backlog and framework agreements total about $5 billion, according to GE Vernova. GE Vernova expects Trench to generate about $1.9 billion in revenue in 2028, with an adjusted EBITDA margin near 36%. The company also anticipates annual cost synergies of $50 million to $100 million by 2030. Those figures are company projections, and the acquisition has not been completed. Trench operates 11 manufacturing facilities across North America, Europe and Asia and employs more than 3,000 people, according to one account of the deal. Its Charlotte, North Carolina, facility is expected to...