GE Vernova plans to buy Trench Group for $9 billion

Half of the price is to be paid in cash and half in debt, with the deal expected to close in late 2027, Reuters reported.

GE Vernova plans to buy Trench Group, a maker of high-voltage grid equipment, from the investment firm Triton Partners.

It would also give GE Vernova Trench's backlog and framework agreements, which Reuters put at about $5 billion. Power Systems Technology reported about two years ago that Trench already supplies GE Vernova's grid unit under a long-term, non-exclusive agreement.

GE Vernova is also due to report third-quarter 2026 results before the market opens on Wednesday, with a webcast at 7:30 AM Eastern, according to a company release carried by MarketScreener.

The deal extends GE Vernova's push into grid equipment. Earlier this month, on October 15, the company locked in years of future demand through supply deals such as a frame agreement with Venture Global for power islands and switchgear. Transformers and bushings are parts the wider industry already lists as short of capacity. Buying Trench adds supply in a market where demand has run ahead of it, rather than opening a new line of business. At $9 billion, the deal is a bet that the shortage in grid hardware lasts long enough to make owning more of that supply chain worth it, instead of relying on contracts with outside vendors.