P+P advises the management of Jenbacher on the sale to Advent

The American private equity investor Advent acquired the business sector of gas engines and devices for decentralized power generation from General Electric. The sector includes gas engines for industrial plants and combined heat and power plants. The purchase price amounts to around US$ 3.25 billion. The transaction was completed in November 2018 and the management program was implemented in 2019.

The business area is located at three main locations. The division includes the two gas engine manufacturers Jenbacher from Tyrol (Austria), which has been part of the GE Group since 2003, and Waukesha from the US state of Wisconsin, which the group acquired in 2010. In the future, the two companies will operate under the INNIO umbrella brand. The third location is in Canada, where a new plant is going to be built. Around 3,000 employees work for the sold business area worldwide.

P+P Pöllath + Partners advised the management of Jenbacher (now part of the INNIO group) with the following team:

• Dr. Benedikt Hohaus (partner, lead, MPP, M&A/PE)
• Dr. Roman Stenzel (counsel, MPP, M&A/PE)
• Silke Simmer (associate, MPP, M&A/PE, all Munich)