Key facts
- GE Vernova agreed to buy Trench Group for $9 billion.
- Trench makes high-voltage grid equipment.
- The deal includes Trench's Charlotte plant and a $5 billion backlog.
- GE Vernova expects Trench to generate $1.9 billion in revenue in 2028.
- GE Vernova expects $50 million to $100 million in annual cost savings from Trench by 2030.
- GE Vernova doubled its share buyback authorization to $20 billion.
GE Vernova is acquiring Trench Group, a maker of high-voltage grid equipment, from Triton Partners for $9 billion. The deal, expected to close in late 2027, aims to expand GE Vernova's presence in a market CEO Scott Strazik estimates will reach $130 billion by the end of the decade. The acquisition includes Trench's Charlotte plant and a $5 billion backlog, with GE Vernova anticipating $1.9 billion in revenue from Trench in 2028 and significant cost savings by 2030. The company also raised its 2026 revenue forecast for the third time, now expecting $46.5 billion to $47.5 billion. Third-quarter orders surged 96% to $29.3 billion, contributing to a record backlog of $197 billion, while revenue increased 27%.