CHSH advises on Sale of General Electric's Distributed Power Business to the Investor Advent International
CHSH Cerha Hempel Spiegelfeld Hlawati advised the seller's side on the sale of the "Distributed Power Business" of U.S.-based General Electric ("GE") to the investor Advent International ("Advent") in Austria. The law firm Shearman & Sterling acted as lead counsel of GE. The purchase price amounted to Dollar 3.25 billion. The transaction includes, besides facilities located in Canada and the U.S., the facilities of Jenbacher in Austria.
The Distributed Power business unit of GE is a leading provider focusing on power generation and gas compression at or near the point of use. With approximately 3,000 employees at three main facilities in Austria, the U.S. and Canada, Distributed Power has delivered more than 48,000 gas engines to customers around the world.
Advent International is one of the largest and most experienced global private equity investors. The firm has invested in more than 335 transactions in 41 countries and manages assets of approximately 33 billion.
CHSH's team of advisors was led by Clemens Hasenauer (Partner, Corporate/M&A). The team further consisted of Johannes Prinz (Partner, Corporate/Tax), Lorenz Pracht (Attorney, Corporate/M&A), Ferdinand Guggenmos, Alexander Reich-Rohrwig and Benedikt Svoboda (all Associates, Corporate/M&A).