CHSH and Shearman & Sterling have advised General Electric on the USD 3.25 billion sale of its Distributed Power Business unit to Austria's Advent International. The buyer was represented by Milbank Tweed Hadley & McCloy and Schoenherr.
The Distributed Power Business unit of General Electric is a provider focusing on power generation and gas compression at or near the point of use. Distributed Power, which has approximately 3,000 employees at three main facilities in Austria, the U.S., and Canada, has delivered more than 48,000 gas engines to customers around the world.
CHSH describes Advent International as "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 included Partners Clemens Hasenauer and Johannes Prinz, Attorney Lorenz Pracht, and Associates Ferdinand Guggenmos, Alexander Reich-Rohrwig, and Benedikt Svoboda.
The Shearman & Sterling team included Partners Laurence Levy, Sean Skiffington, Simon Letherman, Ethan Harris, Jordan Altman, Alfred Kossmann, Iain Goalen, and Marwa Elborai, Counsels Mehran Massih, Jason Pratt, and Andrea de Pieri, and Associates Richard Porter, Sophie Rees, Helene Zotiades, Paul Pasalic, Michael Ward, JB Betker, Orla McMahon, Bradley Simon, Thomas Barker, Ryan Au, Evelin Moini, Andrew Cook, Benjamin Petersen, and Marc Lorenz. The team was supported by Trainees Arthur Morriss (in London) and Eugenio Zupo (in Milan).
Schoenherr's team included Partners Markus Piuk, Thomas Kulnigg, and Martin Ebner, and Attorney Manuel Ritt-Huemer.
