Austrian company buys GEs Distributed Power
Will still have small presence in Waukesha

By Katherine Michalets

Nov. 9, 2018

Advent International completed the purchase of GEs Distributed Power this week, which will now be branded as INNIO. The company will maintain a presence on St. Paul Avenue in Waukesha.
File photo

WAUKESHA A young energy company has acquired GEs Distributed Power, which includes operations in Waukesha. Advent International completed the purchase of GEs Distributed Power, which will now be branded as INNIO.

The transaction includes the Jenbacher and Waukesha product lines, the digital platform and related services offerings, with main operating sites in Austria, Canada and the United States.

Earlier this year, GE Distributed Power gave notice to the Wisconsin Department of Workforce Development that it would lay off 235 employees in Waukesha at the end of August. This came after the announcement from parent company, GE, in September 2015 that it was going to stop manufacturing gas engines in Waukesha in favor of a new $265 million facility to be built in Welland, Ontario, Canada. The reason for the move, the company said, was because at the time, Congress had allowed the Export-Import Banks authorization to lapse.

Spokesman Shaun Wiggins said under the new ownership the plans to do manufacturing in Canada remains, but that there will still be management roles in Waukesha. In face, Wiggins said that the company is looking to hire about 200 people worldwide, including in Waukesha.

This is an exciting time to emerge as a stand-alone energy company. With the continued growth of renewables across the globe and the increased emphasis on energy efficiency, INNIO is well-positioned to be a key enabler and integral part of the energy transformation, said Carlos Lange, president and CEO of INNIO, in a statement.

On Tuesday, INNIO announced its new name and official launch, making it the youngest energy company in the world. INNIO has a proven track record of more than 80 years of reciprocating engine heritage in distributed power generation and gas compression, according to the announcement.

INNIO is well-positioned in the $5 billion global gas engine sector, with growth anticipated to be a mid to high single-digit rate per annum, driven by the rising demand for affordable, reliable and sustainable solutions for power generation and gas compression near or at the point of use.

It is a great pleasure to accompany INNIO as it emerges as a stand-alone energy company, said Ranjan Sen, managing partner at Advent International. The Jenbacher and Waukesha product brands and technologies are recognized worldwide for their performance, reliability and technological excellence. We anticipate continued sustained growth in power generation and gas production technologies on a global scale.

<<EARLIER: GE Distributed Power gives state notice of 236 layoffs

<<EARLIER: GE still plans to cut 350 jobs in Waukesha

<<EARLIER: GE selects Canadian site for Waukesha engine operations