GE Vernova to Buy High-Voltage Equipment Maker for $9 Billion to Meet Energy Grid Demand — Update

By Connor Hart

GE Vernova agreed to acquire a high-voltage grid equipment manufacturer for $9 billion, a deal the company said will help meet increasing demand for grid-modernization and energy-security technologies.

GE Vernova said Wednesday the deal for Trench Group, which it is buying from investment-firm Triton Partners, will further enable it to serve fast-growing demand for grid equipment.

"Trench's differentiated high-voltage grid technology, strong execution, and deep customer relationships are key enablers of the modernized, resilient grid required to keep pace with the electricity supercycle," GE Vernova Chief Executive Scott Strazik said.

Trench's products are found in the majority of high-voltage direct current lines built globally, according to GE Vernova. The company serves more than 800 global utilities and hyperscalers, with a manufacturing footprint that spans 11 sites across Europe, North America and Asia.

Separately, GE Vernova on Wednesday raised its full-year outlook after profit and revenue jumped in the recent quarter, driven by continued demand for electricity infrastructure.

Shares of GE Vernova were recently up almost 4% in premarket trading to $930.60.

The company, formed from the breakup of General Electric, now expects revenue to come in between $46.5 billion to $47.5 billion for the year, up from a prior outlook of $45.5 billion to $46.5 billion. It also raised its forecasts for adjusted Ebitda margin and free cash flow.

Analysts polled by FactSet had forecast full-year revenue of $46.33 billion.

Strazik said demand for electricity infrastructure continues to increase, with GE Vernova now projecting its backlog to exceed $200 billion in the fourth quarter.

Orders jumped to $29.3 billion in the latest period, with equipment growth in power and continued services strength.

"We continue to innovate and develop new solutions for utility and data center customers to meet growing demand, including electrification technologies that support integration and resiliency," Strazik said.

For the third quarter, GE Vernova reported net income of $1.29 billion, up from $453 million a year earlier. Quarterly earnings of $4.81 a share came in ahead of the $4.03 a share that analysts were expecting.

Total revenues jumped 27% to $12.64 billion, topped Wall Street models for $11.99 billion.

GE Vernova also doubled its share repurchase authorization this month, with its board approving an increase to $20 billion, up from $10 billion.

GE Vernova's deal for Trench is expected to be funded equally between cash and debt. The acquisition is expected to close in late 2027, subject to the completion of customary regulatory approvals.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

October 28, 2026 08:09 ET (12:09 GMT)