General Electric
Jenbacher industrial gas engines are manufactured in Austria. The product line also includes co-generation engine units.
Jenbacher industrial gas engines are manufactured in Austria. The product line also includes co-generation engine units.
Jenbacher industrial gas engines are manufactured in Austria. The product line also includes co-generation engine units.
Jenbacher industrial gas engines are manufactured in Austria. The product line also includes co-generation engine units.
Jenbacher industrial gas engines are manufactured in Austria. The product line also includes co-generation engine units.

GE Selling Distributed Power Business for $3.25 Billion

June 25, 2018
Private-equity group bests Cummins, Kohler for reciprocating gas engines / power equipment unit

General Electric has an agreement to sell its Distributed Power business to Advent International, a private-equity investment group based in Germany, for $3.25 billion. The deal includes the Jenbacher and Waukesha engine product lines, and manufacturing sites in Austria, Canada, and the U.S.

Advent invests in industrial, energy, and business services enterprises. It has made more than 335 investments, and as of March 31 it had €33 billion in assets under management.

The transaction is expected to close late this year, subject to customary closing conditions and regulatory approvals. 

The sale has been hinted for several weeks. Other bidders reportedly included industrial engine manufacturers Cummins Inc. and Kohler Co., as well as other investment firms and syndicates, though no other information on the bidding process had been made official.

The Distributed Power business has been part of the GE Power organization: it designs and manufactures reciprocating gas engines, power equipment, and services for power generation and gas compression at or near the point of use. Its products include fuel-flexible, industrial gas engines generating 200 kW to 10 MW of power for numerous industries globally.

It has approximately 3,000 employees and three main manufacturing plants. It posted 2017 sales of $1.3 billion.

The Jenbacher product line, based in Jenbach, Austria, product line includes gas engines for industrial power generation, co-generation units, and containerized power-generator sets.

The Waukesha engine product line, based in Waukesha, Wis., includes stationary reciprocating engines.

“In Advent, we have a partner that shares our team’s passion for delivering outstanding customer outcomes,” noted GE Distributed Power’s president Carlos Lange. “Our Jenbacher and Waukesha brands and engines are recognized all over the world for their performance and reliability, and Advent’s deep sector expertise will allow us to further strengthen our capabilities for the benefit of our worldwide customers. Advent will help accelerate our growth as we continue to execute on our priorities.” 

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