Ro_Patel
Oct 30, 6:45 PM
$GEV has signed an agreement to buy Trench Group from Triton Partners for
$9B using cash & debt - closing expected in late 2027
Trench, a high-voltage grid equipment maker, supplies electrical equipment to more than 800 utility companies & large-scale computing customers. Employs more than 3,000 people. Runs 11 manufacturing facilities in 8 countries
Trench is expected to bring in
$1.9B in 2028 revs, w/ an adj'd EBITDA margin of approximately 36%. This means the
$9B purchase price represents about 13x its projected ajd'd EBITDA, ex-synergies
Trench has a backlog of
$5B
$GS &
$UBS acted as financial advisors to GE Vernova -
$BAC &
$MS acted as financial advisor to Triton Partners
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