Advent International has completed the acquisition of GE’s Distributed Power business and is now a stand-alone energy company rebranded 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.
“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.
Innio celebrates its new name and official launch, emerging as the youngest energy company in the world as it carries over two powerful brands — the Jenbacher and Waukesha gas engine product lines.
“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.”
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