GE Vernova has signed an agreement to buy Trench Group from investment firm Triton Partners for $9 billion, the company said in a news release on October 28. Trench makes high-voltage grid equipment. The price will be paid half in cash and half in debt, the company said.

The deal is expected to close in late 2027, the release said. It still needs regulatory approvals and talks with worker representatives where the law requires them.

Trench is based in Berlin and has more than 3,000 workers at 11 sites in Europe, North America and Asia, the release said. It brings about $5 billion in backlog and framework deals. GE Vernova said Trench expects about $1.9 billion in revenue in 2028. The deal adds a new Trench plant in Charlotte, North Carolina, that will make 765-kilovolt equipment.

Utilities are spending more on power grids to replace old equipment and serve data centers and factories, Reuters reported. GE Vernova expects $50 million to $100 million a year in cost savings from the deal by 2030, Reuters said.

Chief Executive Scott Strazik said the deal would help the company tap a fast-growing market, Reuters reported. He said the world market for high-voltage gear is expected to reach $130 billion by the end of the decade.

GE Vernova also raised its 2026 revenue forecast to between $46.5 billion and $47.5 billion, Reuters reported. It was the third straight time the company lifted the outlook. Orders jumped 96% to $29.3 billion in the third quarter, and its backlog hit a record $197 billion, Reuters said.

The company doubled its share buyback plan to $20 billion, Reuters said. Its shares were down more than 3% at $863.14 that day, the outlet said.

What we know: GE Vernova plans to buy Trench for $9 billion, with the deal set to close in late 2027.
What we don't: Whether regulators will approve the deal without conditions.