Advent International, a private equity firm, is the one that purchased the distributed power operations of General Electric. It was a business deal involving $3.25 billion. The Jenbacher and Waukesha engines are part of this Distributed Power business.
Details regarding the partnership
The president of Distributed Power, Carlos Lange, while recently addressing a number of journalists, outlined that they were quite pleased to have Advent as a partner for the way it shared the passion of its team whose central objective is to deliver outstanding customer outcomes.
He outlined that the Jenbacher and Waukesha brands and engines enjoyed global recognition in terms of the associated reliability and remarkable performance. The deep sector expertise associated with Advent will move quite a long way helping strengthen the capabilities of the company and the major beneficiaries in the long run will be large number of customers. Distributed Power is currently focusing on the execution of its priorities as Advent assists it accelerate its growth.
So far, the Distributed Power business has managed to deliver about 48,000 reciprocating gas engines to customers around the globe. In the previous year, the unit witnessed the sales amounting to $1.317 billion.
The managing partner at Advent International, Ranjan Sen describes Distributed Power as a terrific asset that pulls along with top end engines relied upon by the various original equipment manufacturers for the efficient generation of electrical heat and power as well as in gas compression.
Projections into the future
Market analysts following closely on its progress have said that it has a huge growth potential on a global scale and they believe the aspect of having talented employees around the world will help sharpen its competitive edge. There are plans underway to make substantial investments in the critical areas such as the service network, product portfolio and digitization to support Distributed Power in terms of giving a significant boost to its market standing.
In its latest statement, Advent disclosed that it managed to complete over 100 transactions in the industrials, business services and energy sectors. It was in the previous week that rumors went into circulation that GE was set to make a big announcement regarding the reorganization of the company in the segment of economic struggles.
It was on June 19 that GE got kicked out of the prestigious Dow Jones Industrial Average (DJIA). Reports indicate that the stock of the company has lost almost half its value in the previous year and was regarded to be the worst-performing stock in the DJIA.