Business · Companies · 9 hrs ago
GE Vernova to buy Trench Group for $9 billion
GE Vernova is buying German supplier Trench Group for $9 billion in a deal announced by its current owner, investor Triton.
Trench, based in Berlin and operating 11 factories worldwide, makes components used in high-voltage transformers.
These components help connect transformers to electricity networks, allowing power to travel long distances.
Siemens Energy sold Trench to Triton in April 2024 for a reported mid-hundreds of millions of euros, when Siemens Energy needed cash during a financial crisis linked to problems in its wind business.
Triton invested €200 million in Trench, including in a new factory in the United States, as demand for grid equipment grew.
The sale price is around 10 to 20 times Triton’s reported purchase price, although Trench has about 3,000 employees and expects revenue of $1.4 billion this year.
GE Vernova wants to expand its supply chain and production capacity as investment in power grids, data centres and electrification increases.
Trench says it plans to keep supplying its existing customers, and they may have secured long-term supply contracts.
GE Vernova will buy Germany’s Trench Group from investor Triton for $9 billion.
Trench supplies components for high-voltage transformers used in electricity networks.
Siemens Energy sold Trench to Triton in 2024, when the company needed capital.
Triton invested in the business, including a new factory in Charlotte, North Carolina.
GE Vernova expects Trench’s revenue to reach about €1.7 billion by 2028.
- Who
- GE Vernova is buying Trench Group from investor Triton.
- What
- GE Vernova will pay $9 billion for the high-voltage technology company.
- When
- The deal was announced on October 28, 2026.
- Where
- Trench is a Berlin-based company with operations including a factory in Charlotte, North Carolina.
- Why
- GE Vernova says Trench’s technology is needed for resilient electricity networks; the purchase will also help it integrate its supply chain and increase capacity.
This story does not have two clearly opposing sides.
Triton bought Trench from Siemens Energy for a reported mid-three-digit-million-euro amount.
Trench’s new factory in Charlotte, North Carolina, opened.
GE Vernova announced it would buy Trench from Triton for $9 billion.
- Purchase price
- $9 billion
- Seller
- Triton
- Former owner
- Siemens Energy
- Employees
- About 3,000, according to WirtschaftsWoche
- Order backlog
- About $5 billion, including framework agreements
- Expected revenue
- About €1.7 billion by 2028
2 sources
What people are saying
Trench’s high-voltage technology is a prerequisite for resilient electricity networks needed in the current “electricity supercycle
If I could double capacity with a snap of my fingers, I could fill this factory
Nobody saw a few years ago that the market would take off like this