GE Vernova Expands in High-Voltage Grid Gear With Trench Deal

GE Vernova is buying high-voltage equipment maker Trench Group from Triton Partners for $9 billion and raised its 2026 revenue forecast for the third straight time on Wednesday. 5 billion in its July guidance. Trench makes high-voltage grid equipment, and utilities are spending more on grids to replace aging infrastructure and meet demand from data centers and industrial electrification.

The deal adds Trench’s Charlotte plant, where production of 765-kilovolt equipment is due to start in late 2027, along with a backlog of about $5 billion and a larger footprint in Europe and Asia. 9 billion in revenue in 2028 at an adjusted EBITDA margin of roughly 36%, and to deliver $50 million to $100 million in annual cost savings by 2030.