Receive our newsletter – data, insights and analysis delivered to you
March 30, 2011

GE to Acquire $3.2bn Stake in Converteam

GE's energy business will acquire about 90% of Converteam, a provider of electrification and automation equipment and systems for approximately $3.2bn. GE will purchase the stake from a controlling shareholder group that includes management, Barclays Private Equity and LBO France, while

By cms admin

GE’s energy business will acquire about 90% of Converteam, a provider of electrification and automation equipment and systems for approximately $3.2bn.

GE will purchase the stake from a controlling shareholder group that includes management, Barclays Private Equity and LBO France, while Converteam’s senior management will retain the remaining 10% stake.

Converteam’s portfolio includes drives and other power electronics, advanced rotating machines, generators and controls.

The firm’s solutions allow the conversion of electricity into mechanical performance to power and control motion or industrial assets such as natural gas pipelines and gas-gathering compressors.

The portfolio also adresses transforming mechanical power into grid-quality electricity in wind turbine, thermal power or hydro power installations and adjusting electrical frequency to precise user requirements.

Converteam’s products are used in the renewable energy sector for converting intermittent and variable power from solar, wind and tidal power into the high-quality and reliable power for grid operators.

Content from our partners
Green investment: What gives Scotland multiple advantages
How Hengst helped to keep Germany’s charity “star singers” shining
How one power station prevented frequent shutdowns with three-stage air filtration

With the acquisition, GE is be able to offer a broad range of integrated generators, converters and inverters, power quality and grid connection solutions for the onshore / offshore wind turbine and solar plant sectors.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU